Sharing an ET piece on HDFC Bank. It’s based on a recently issued research report. While I don’t care much about projections…
There’s a very important factual sentence in this piece that’s worth taking note of:
“Our zipcode-level analysis shows that HDFC Bank has added branches in areas with limited competition from private banks. In fact, 45-50% of new branches are in markets where leading private banks, such as ICICI Bank and Axis are not present,” said the Jefferies note."
To me this shows the willingness of the management to make a bet which is painful in the short term but has the potential to pay off in future.
Exactly the kind of long term thinking long term investors need to appreciate.
Discl: Interested
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