Our selection criteria favours companies which generate high returns on capital and are currently undervalued. Our valuation measure is based on P/FCF instead of P/E, as we believe a company’s free cash flow generation ability is a better predictor of future returns than post tax earnings.
HDFC Bank cuts MCLR by 5 bps, Bank of Baroda raises 3-month rate by 10 bps
HDFC Bank reduced its lending rates by five basis points across maturities. Bank of Baroda will increase its three-month lending rate by ten basis points.