Considering the state of the Indian economy, HDFC Bank Ltd’s performance in the second quarter of FY20 was decent. Graphic by Santosh Sharma/MintNet profit growth was driven by lower taxation, loan growth and higher profit on sale of investments. Overall year-on-year loan growth at 25% was driven by home, agricultural and corporate loans. This calendar year, the HDFC Bank stock has gained twice as much as the Nifty Bank Index at 16%, outpacing peers. The HDFC Bank stock trades at a one-year-forward price-to-book multiple of 4 times, much higher than ICICI Bank Ltd and Axis Bank Ltd.

Source: Mint October 22, 2019 01:41 UTC