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According to the data released on the exchange, the foreign ownership limit in HDFC Bank was 55.51 per cent in the September quarter. At the same time, the foreign ownership limit was 54.83 per cent in June. On this, the brokerage house says that there is a possibility of increase in investment in the stock. Because the first phase of MSCI flow came in September 2024. The second phase of MSCI flow may happen in the November review. If a decision is taken on this, then new buying will be seen in the stock.
As per valuation, HDFC Bank is still very good at this time. There was no concern about valuation in the banking sector because stocks like HDFC, ICICI Bank and Kotak are not expensive as per valuation. The concern about banking stocks was related to growth. But in the data, HDFC Bank has shown very good deposit growth. This stock is currently at a very good valuation. This stock has been stagnant for the last 4 years. Now it seems to be its turn to move. If there is a growth of 15 percent in the advances of the bank in the future, then this stock will be a very good candidate for re-rating.
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