HDFC Bank Q3 Results in Line; FII Selling Behind Stock Correction, Says Gaurang Shah

HDFC Bank's Q3 results are in line with expectations, with no major disappointment in operational performance. The bank added 473 new branches during the quarter, which should support balance-sheet growth. The interest rate environment remains supportive, with cumulative rate cuts of around 1.25% last year and potential easing continuing into the new financial year. The stock correction is largely due to sustained FII selling, but fundamentals remain intact with steady growth prospects.