Franklin sees value in India lenders amid $26 billion stock rout

January 20, 2024

HDFC Bank Ltd. tumbled this week following third-quarter earnings that disappointed investors on liquidity and deposit metrics, despite net income beating estimates. The selloff in the country’s biggest private sector lender has raised concerns about peers such as ICICI Bank Ltd. and Kotak Mahindra Bank Ltd., due to announce earnings on Jan. 20.

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