5 Best Indian Stocks to Buy Right Now

1. HDFC Bank Limited (NYSE:HDB)

Number of Hedge Fund Holders: 40

HDFC Bank Limited (NYSE:HDB), an Indian banking and financial services company, reported an 18% year-over-year growth in its net profit at INR 88.3 billion in Q2. The company recorded net revenue of INR 250.8 billion, presenting a 14.7% year-over-year growth.

Recently, UBS listed HDFC Bank Limited (NYSE:HDB) as one of its top picks in the fintech sector and appreciated the company’s strategy of branch expansion and growing digital banking presence in urban regions.

At the end of Q3 2021, 40 hedge funds tracked by Insider Monkey reported owning stakes in HDFC Bank Limited (NYSE:HDB), compared with 39 in the previous quarter. The total value of these stakes is roughly $1.8 billion, up from $1.72 billion in Q2. Owning over 5 million shares, Ken Fisher’s Fisher Asset Management was the company’s leading shareholder in Q3.

Baillie Gifford mentioned HDFC Bank Limited (NYSE:HDB) in its Q2 2021 investor letter. Here is what the firm has to say:

“HDFC is India’s leading residential mortgage provider. It is the low-cost provider of mortgages, a significant advantage and competitive strength in a commodity industry. The company has been a beneficiary of rising Indian income levels and improving housing affordability for the expanding middle class. Greater financial inclusion has allowed mortgage provision to extend to a larger portion of India’s population and HDFC is well positioned to benefit from this growth. The company also has an excellent long-term credit record with a focus on profitable growth and has shown good capital allocation over many years. We think the company can grow profitably for many years to come and have invested following the opening of the Indian market.”

You can also take a look at Top Pharmaceutical Companies in India and Top 20 Internet Companies in India

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