HDFC Bank falls 4% after weak Q1 business update. Should you buy the dip?

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Shares of HDFC Bank fell sharply on Friday, declining 4% in early trade after a weak business update. This not only led to a substantial erosion in its market capitalisation but also raised doubts among analysts about the bank’s future performance.

Historically, the June quarter has been seasonally soft for the private lender, but the latest reported numbers are slightly lower than the usual 1-3% sequential growth range, said brokerage firm Nomura.

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