Mutual funds owned 136.26 crore of HDFC Bank shares in January, up 6.92% from 127.44 crore shares held in December, indicating net buying of around 88,307,659 shares, according to the Prime database.
HDFC Bank stock is trading at decadal-low valuations of about 2.1 times to book value. Not just LIC, but other long-term investors are finding value in the stock.
HDFC Bank shares fell as dip buyers were insufficient following Wednesday s crash, resulting in a loss of Rs 1.3 lakh crore in market capitalisation. Investor concerns include flat NIM despite ICRR withdrawal and decline in LCR. Deposits grew slowly compared to guidance. Jefferies sees potential in HDFC Bank s valuation and emphasizes NIM expansion for stock movement. Nomura downgraded the stock due to funding mix challenges.
India Business News: HDFC Bank shares plummeted by 3.7% to Rs 1,480 on the BSE, resulting in a decline of about Rs 1.3 lakh crore in market capitalization since yesterday.