 "HDFC is the standout name in this regard and looks poised to take significant market share, says Wood")
In his latest note to investors, GREED & fear, Christopher Wood, global head (equity strategy) at Jefferies said that he has hiked allocation to Indian equities in his Asia Pacific ex-Japan relative-return portfolio by one percentage point and added two percentage points to the existing investment in HDFC in the Asia ex-Japan long-only portfolio. At 2x 12-month forward adjusted book, compared with a five-year average forward price-to-book ratio (P/BV) of 2.6x, Wood feels HDFC’s valuation remains attractive.
“The home financing story is more straightforward given the surge in affordability courtesy of lower interest rates and the prolonged correction in residential
