Thanks for you insights, I got onto ITC and LaurusLab mainly based on your conviction and writeup. I’m generally cautious on bank and financial companies in India due to ‘fraud’ and ‘manipulation’, your write up on Citi Union Bank is interesting, don’t banks typically trade at ‘book value’, even the best of the best like JP Morgan only trades at PB 1.5x and there is loads across US and UK trading at discount, e.g Citi at PB 0.6x , is there any reason to pay more than book value, is it due to growth in loan book ? All this considering the ‘book value’ itself could be wrong
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