HDFC Bank shares: $1.8 billion of MSCI flow expected next month

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Shares of India's largest private sector lender HDFC Bank, which has been testing investor patience for the last few years, may attract $1.8 billion inflows as global index services provider MSCI may increase its weightage.

HDFC Bank's September shareholding pattern shows that the FII headroom remains safely above 20%. "As a result, the second phase (and last) of the weight increase will occur during the November '24 rejig, which is expected to lead to approximately $1.8 billion in inflows in HDFC Bank," Nuvama Alternative & Quantitative Research said.


Earlier in August rejig also, MSCI had raised HDFC Bank's weightage leading to FII flows. The Nifty stock has lost about 1% of its value so far in the calendar year 2024 and is up only 42% in the last 5 years.

HDFC Bank has a strong history of doubling investor wealth every 4-5 years but the performance in the last few years has made investors jittery.


Earlier in the day, HDFC Bank posted 15% year-on-year (YoY) jump in its deposits at Rs 25 lakh crore for the second quarter ended September 2024 while the bank's advances under management jumped 8% to Rs 24.37 lakh crore.

The bank's gross advances aggregated to approximately Rs 25.19 lakh crore as of the quarter ended September 2024, a growth of around 7% YoY.Further, the bank’s CASA deposits stood at Rs 8.83 lakh crore, witnessing a jump of 8% against Rs 8.17 lakh crore for the corresponding quarter in the year-ago period.HDFC Bank shares were trading marginally up at Rs 1,687.50 on BSE late morning session on Friday.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

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