HDFC Bank Q3 results in line; FII selling behind stock correction, says Gaurang Shah

HDFC Bank’s Q3 results met expectations, with stable operations and limited downside despite recent stock correction. Gaurang Shah, Senior Vice President at Geojit Investments, says FII selling—not fundamentals—drove the fall, while branch expansion, easing rates and one-time labour code costs will be positioning the bank for steadier performance going ahead.