HDFC Bank: A Stock Owned By The Hottest Mutual Funds

If you’re looking for investment ideas, check out HDFC Bank (HDB).  It is a major holding of top-performing stock mutual funds.

The $207 million Wasatch Emerging India Fund (WAINX) was the top performing stock mutual fund.  It jumped 37% year to date through July 10.  It is actively managed. Among its best performing stocks were the ADRs of HDFC Bank (HDB), whose price rose 46%.

HDFC Bank On The Move

HDFC Bank has more than 4,500 branches in nearly 2,600 Indian cities.

The bank is ranked No. 1 in IBD’s Banks-Foreign industry group. Earnings per share rose 12% and 23% the past two quarters. It has racked up four straight years of EPS growth. Its pretax margin was 27.8% last year, the highest in at least nine years.

The top performing stock mutual funds, among those with more than $100 million in assets year to date through July 10, were those with portfolios in India, China, #Asia and technology.

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