We believe that structural drivers are in place for HDFC Bank and see its market share gain trajectory to continue. HDFC Bank is well placed to benefit from the slew of stimulus measures announced by the government and the regulator of late. This will likely see better growth opportunities along with less pressure on pricing, with the possibility of improved spreads from Q1 levels. Positive business growth fundamentals would support strong earnings growth and help the company sustain its valuation premium as compared to...