HDFC Bank’s arm HDB Financial needs a fix for premium valuation to stick
The bank’s shares have gained just 3% since January, a much slower rate of growth than its peers. The drag on share prices besides HDB Financial has been the bank’s own troubles with its digital services
MUMBAI: HDFC Bank Ltd has had some troubles when it comes to the performance of its subsidiaries following the pandemic, especially that of HDB Financial Services Ltd. Notwithstanding its own premium valuations, the lender’s shares have been under pressure so far in 2021 partly because of its subsidiary.
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