HDFC Bank’s moat as the largest lender has gone nowhere. It has among the best lending practices. It is as solid as it was, say, a year ago. The valuations have become extremely attractive now.
It is trading at the lowest P/E and P/B range in last many years’ history.
At present, it looks like a great investment opportunity, especially when adjusted for risk.
With the Indian economy set for decades-long growth, the largest private sector bank will have to go really wrong in their strategy to not grow. HDFC Bank’s history does not seem to suggest that. Rather, they’re the market leaders in many segments.
Open to contrary views.
Disclosure: Invested
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