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Here’s Why HDFC Bank Limited (HDB) Declined in Q1

Soumya Eswaran
·2 分鐘文章

Artisan Partners, an investment management company, released its “Artisan Developing World Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund (Investor Class) returned 22.64% compared to 3.96% for the MSCI Emerging Markets Index. The fund has returned 85.15% cumulatively since June 30, 2015, compared to 22.24% for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Artisan Developing World Fund highlighted stocks like HDFC Bank Limited (NYSE:HDB) in the first quarter 2023 investor letter. Headquartered in Mumbai, India, HDFC Bank Limited (NYSE:HDB) is a banking and financial company. On April 18, 2023, HDFC Bank Limited (NYSE:HDB) stock closed at $68.93 per share. One-month return of HDFC Bank Limited (NYSE:HDB) was 9.74%, and its shares gained 23.42% of their value over the last 52 weeks. HDFC Bank Limited (NYSE:HDB) has a market capitalization of $128.168 billion.

Artisan Developing World Fund made the following comment about HDFC Bank Limited (NYSE:HDB) in its Q1 2023 investor letter:

"Bottom contributors to performance for the quarter included Indian banking and financial services company HDFC Bank Limited (NYSE:HDB). HDFC Bank suffered from the Adani overhang which impacted the Indian equity market, and experienced net interest margin (NIM) pressure despite strong deposit growth as the company’s retail loan mix remained depressed."

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HDFC Bank Limited (NYSE:HDB) is not on our list of 30 Most Popular Stocks Among Hedge Funds.  As per our database, 31 hedge fund portfolios held HDFC Bank Limited (NYSE:HDB) at the end of the fourth quarter which was 36 in the previous quarter.

We discussed HDFC Bank Limited (NYSE:HDB) in another article and shared the list of best Asian stocks to buy on March 17. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.