HDFC Bank shares at mouth-watering valuation, say contra buyers after $10 billion loss

CLSA and Axis Securities have raised their target prices for HDFC Bank, while fund manager Saurabh Mukherjea believes the bank’s valuations are attractive. Despite concerns about deposit growth, Mukherjea remains confident in the bank’s solid operational performance and sees potential for further investment. Marcellus, the firm managed by Mukherjea, has significant investments in HDFC Bank.

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