Bullish on HDFC Bank? It’s time to buy it now: Anand Tandon

economictimes.indiatimes.com:

Anand Tandon, Independent Market Analyst, says “Even if you had assumed that before this fall there was only a 10% upside, now there is a 15% to 17% upside. So, there is no particular reason that one should not be looking to buy in now, especially if you have a bullish view. Of course, if you are sceptical about the market, that is a different point of view altogether, but I would still think that a bank like HDFC Bank should be part of your core portfolio and there is not much that you can do other than to trade off at the margin.

What to do with HDFC Bank now with the weakness that the stock is seeing?
Anand Tandon: We are looking at an issue where the deposit growth is slower than what the market was anticipating and more importantly, it means that the credit growth, which is actually doing quite well, has to be slowed down a bit. But on the other hand, the extra capital that they have had to keep is now peaked out and therefore they will start to come down.
The fall that they had already predicted, which had been forecast by the management that the ROE will have to fall by at least 50 basis points, has already started to play out. So, while it may take a little while longer for it to go back to a sensible growth number, I would still argue that you will get a reasonable double-digit growth from HDFC Bank going forward and this kind of fall, we keep hearing there is a lot of money on the sideline.

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Even if you had assumed that before this fall there was only a 10%