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HDFC Bank: Resilient performance will drive valuation re-rating

Given the stellar performance and the high probability of the valuation getting re-rated, HDFC Bank is a must buy stock and should form part of every investor’s core portfolio

October 19, 2020 / 03:38 PM IST
HDFC Bank: Resilient performance will drive valuation re-rating

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

HDFC Bank (CMP: Rs 1,199, Mcap: Rs 659,894 crore) CEO Aditya Puri, who led the bank since its inception 26 years ago, is set to retire this month. The departure of a successful leader is always a ticklish moment — more so given that the timing coincides with the pandemic-led economic crisis. But amid this big change and the uncertain economic scenario, HDFC Bank’s stock is set to hit an all-time high. This shouldn’t be surprising as the disruption caused...

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