HDFC Bank Share Outlook: Why Investors Are Worried Despite Reasonable Valuations

HDFC Bank has underperformed expectations since its merger with HDFC Ltd., raising questions about its future growth. Gurmeet Chaddha, Co-founder & CEO, Complete Circle, shares why he is disappointed with the bank's post-merger performance, citing weak synergy benefits, liability-side challenges, and a greater focus on selling third-party products over core banking. Despite these concerns, he believes HDFC Bank's valuations have become attractive and says stronger operating performance could drive a turnaround.