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 ...