View on HDFC Bank outlook : MFs having to offload HDFC Bank shares worth Rs 5,000 cr after the merging HDFC with itself, to meet 10% exposure cap of Sebi Dr. V K Vijayakumar, Geojit Financial Services
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Below the view on HDFC Bank outlook Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
HDFC Bank share has been weak even in this resilient market due to selling by mutual funds which will have above 10% stake in the merged entity. This weakness will continue since around 60 mutual fund schemes have holdings above the 10% limit and they will have to reduce their holding.
This weakness in the stock, however, is an opportunity for retail investors. The stock is reasonably valued and another 2 to 3 % decline will make the valuation attractive. The prospects of the merged entity are very bright. Decent returns are likely in the medium to long-term.
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