HDFC Bank
SINGAPORE: All around HDFC Bank Ltd, India’s biggest lender by market value, the news seems to be bad and getting worse: economic growth is slowing, loan losses are rising and shadow banks are mired in crisis.
And yet investors keep piling into HDFC Bank’s stock, convinced it will emerge a winner from India’s financial woes. The company’s market value has surged by US$21bil over the past year, more than any other bank worldwide.
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