Is HDFC Bank stock nearing the end of its underperformance spell? Here’s the Street view

With HDFC Bank’s multiple 30% lower than in the past, improving core PPOP growth and a good start to its deposit mobilisation journey, we believe it is at the end of its underperformance period,” global brokerage firm CLSA said.While the ramp-up in deposit mobilisation will remain a steep task, its current standalone valuation at 2.4x FY24CL book and consolidated valuation of 2.1x FY24 book are undemanding, and incremental risk-reward is favourable, it said.

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