HDFC Bank's shares reached a record high after completing its merger with parent company HDFC, making it one of the world's top 10 banks by market capitalization. The $40 billion merger closed on June 30 and allows HDFC Bank to underwrite larger loans, including those for infrastructure. Since the deal was announced, HDFC Bank's shares have risen about 14.5%, outperforming the benchmark Nifty 50 index. The combined entity has a market capitalization of around $157 billion, surpassing major global lenders such as Morgan Stanley and HSBC Holdings. Morgan Stanley considers HDFC Bank's valuation attractive and expects accelerated loan growth.
