$1-Billion Foreigner Buying Binge Seen for HDFC Bank Shares
HDFC Bank Ltd. may extend its record run as global funds rush to snap up shares of India’s most-valuable lender before the regulator makes market structure changes, Macquarie Capital Securities (India) Pvt. On Friday, India will introduce a new system monitoring foreign ownership limits in real time. Overseas funds may buy as much as $1 billion of HDFC Bank stock on Friday to take advantage of the increased ownership headroom due to the new tracking system, and their continued access to the old facility, Macquarie analysts Suresh Ganapathy, Nishant Shah and Akash Nainani wrote in a May 30 note.