HDFC Bank Update: All gains over past few weeks wiped out by 4 percent fall. (6 perc down in last 2 sessions)
Update on HDFC Ltd book after merger. Gross non-individual NPAs spiked from 2.9 to 6+ percent due to banking standards. A 20k cr+ hit to the bottom line for HDFC Bank. Came as a surprise to me. I thought HDFC Ltd wont be having any hidden NPAs, it seems like I was wrong.
Still continuing with HDFC Bank. PS: HDFC Bank is not actually under deep value category, but the truth of current market is, there is no deep value stock available in the market, so we need to make the most of whatever is available. We cant say when the market will eventually cool off.
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