Company - HDFC Bank (NYSE:HDB)
Recommendation - Strong Buy with a target 30-40% upside in 1 year
Thesis Summary - Macroeconomic headwinds have resulted in a 30% decline in the shares of HDFC Bank in the last three months. The second largest private bank in India and probably the best bank in India in terms of asset quality is a strong buy and can give robust returns as macro-economic headwinds wane.
The Buy Thesis
HDFC Bank is the second largest private sector bank in India and is on the verge of becoming the largest private sector bank by overtaking ICICI Bank (NYSE:IBN) during this year. As of August 2013, the bank had 3,119 branches, 11,088 ATMs...
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