Well played HDFC, the bond market will miss you
HDFC, in many ways, represented India’s growth story. No wonder it has always been the favourite stock of investors. But more than the equity market, HDFC’s absence will be missed by the bond market. Its AAA-rated bonds always sell like hotcakes. Despite being a regular issuer, nearly all of HDFC’s bond issues were oversubscribed because they were considered a proxy for sovereign debt.
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