HDFC Bank, India’s most valued lender, has seen a decline in its stock value in the past three months, raising concerns about its impact in the banking sector. The bank’s performance has been relatively subdued compared to public-sector lenders, and uncertainties surrounding its merger with its home-financing parent have weighed on the stock. However, HDFC Bank has been focusing on expanding its branch network in areas with limited competition from private banks, allowing it to compete with public-sector banks for deposits. This strategy is expected to benefit the bank in the coming years and drive earnings growth.
Tech view: Breakdown below 24,400 may open doors for 24k in Nifty. How to trade tomorrow
A long bear candle has been formed on the daily chart, indicating a decisive downside breakout of 24,600-24,500 levels. Nifty is currently weakening after forming