Housing Development Finance Corporation or HDFC, the mortgage giant and the most preferred non-banking finance company (NBFC) stock, witnessed its first rating downgrade by analysts on Tuesday. Nomura turned ‘neutral’ on the stock after being ‘positive’ since December 2017.
While HDFC stock was marginally in the red reacting to the downgrade, timing of this rating action is interesting as this is the first rating change for the stock, since the liquidity crisis unfolded in September 2018. On a year-to-date basis, HDFC stock has risen 11 per cent. This has ...
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