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Since the beginning of 2020, banking shares have plummeted 38.6% while the Nifty50 index has shed 24.6%, raising questions over the sector’s ability to outperform. Fund managers and broking firms, though divided on their views, believe the quality and rate of lending will now decide the composition of the banking index and large-cap mutual fund portfolios.
Diametrically opposite views often bring out the best in financial analysis — more so, when they are coming from leading brokerage houses. And when that outlook is on HDFC Bank, investors sit up and take notice because they know it could be a leading indicator for the entire banking sector. That’s exactly what happened in March 2020 when Bernstein, a foreign broking firm, put out a sell recommendation on HDFC Bank with a target price of INR750.
BY
Varsha Santosh
7 mins read, Last Updated:
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