CLSA Sees 60% Upside for HDFC Bank, Axis Bank

CLSA, a financial analyst firm, thinks the stocks of HDFC Bank and Axis Bank are too cheap.

They say the banks are growing corporate loans fast, keeping costs low, and improving loan quality.

Even though the banks’ interest margins are shrinking, the overall earnings are still good.

The analysts gave target prices that could raise the stocks by 60% for HDFC and 25% for Axis.

They hope investors will see the bigger picture and buy the shares.