Street Signs: HDFC Bank's quiet climb stumbles, demat accounts surge, more

With market regulator Securities and Exchange Board of India directing brokers to be true to label when it comes to charging customers, the zero-cost brokerage model is expected to upend

HDFC Bank’s quiet climb stumbles: Optimism to ominous headwinds

Shares of HDFC Bank have been on a silent upward march over the past few weeks amid optimism that its weighting in the MSCI Emerging Markets Index will be doubled, leading to potential inflows of $3–4 billion. However, its business update on Friday, which showed a sequential decline in both advances and deposits for the quarter ending June 2024, caught those who had mounted bullish bets on the counter running for cover. “HDFC Bank’s update pointed to a seasonally weak quarter. However, it didn’t warrant such a big