That’s already factored in stock price to book. Book value per share will go down with equity dilution. So current multiple of 2.7 times is after reduced book value.
RBI ruling regarding CDR applies to all the banks so yes it’s an argument to use if one is bearish on the entire banking sector but it doesn’t exclusively impact HDFC only.
With interest rate cuts banks will again go back to raising capital from the market. Big picture is that if we are bullish on Indian economy, banks need to participate in that growth. As investor we can’t lose breath over all micro-developments.
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