Opinions David Driscoll
HDFC Bank LtdHDBBUY ON WEAKNESSJul 20, 2026
David DriscollStock price when the opinion was issued
As of Jul 21, 2026. Market Open.
You might be interested:
For his firm, they own 3 banks. RY covers them in North America, SVNLY takes care of Continental Europe, and HDB (really cheap right now) on the thesis that India's population could make it the next superpower in the next 50 years.
David DriscollLargest private-sector bank in India. NA, Europe, Japan, and China are seeing aging populations. Average age in India is 30, so lots of growth going forward. If Indian government is serious about building out infrastructure, then you want to own one of the banks.
Last quarter showed earnings growth of 15%. Moving forward, expected to be in 15-20% range. Not seeing those numbers among Canadian and US banks. Gives you diversification. Gets you away from tariffs in NA. The EM index is up 28% this year, best-performing major index this year. Yield is 1.03%.
David Driscoll
Investing in India right now makes all the sense in the world. It's the largest population now, surpassing China. India has significant growth, population is relatively young and moving to cities, with more banking needs required.
Second-largest bank in India. Just completed a merger with a mortgage business.
David Driscoll
David Driscoll
India is a big importer of oil. When the US-Iran war broke out, Indian stocks started to fall. Each $10 rise in the oil price reduced India's GDP by 0.25%. This hurts the bank, because they lend. Recent earnings were light. Shares are down 9% today on that. It's one of the largest banks in India. Half the population is under 35. If India ever builds its infrastructure and removes its corruption, it could become the next superpower over the next 25 years. HDB gives you wide exposure to India. You can dollar-cost average this stock. Lower oil prices will help India and HDB.