You are correct. HDFCBK is the parent company of HDFCAMC & HDFCLife. When any of these entities want to increase their holding in banks (for investment purposes), they need to seek RBI nod, made in the HDFCBK name.
Peak pessimism about a fundamentally strong company typically augurs well for a stock. As every one can’t get rich at the same time (reason why stocks with strong consensus buys seldom generate superior returns), same goes the other way. Infy at 1300 last year had seen similarly record bearish bets and stock has since then risen 30% even with slowness in IT sector recovery.
Must watch for all those interested in HDFC Bank. Something for everyone…the naysayers, and the yeasayers! !
From the Goldman Sachs event earlier today…
Adobe Scan 24 Feb 2024.pdf (442.4 KB)
Old vetaran interview summary.