HDFC is down on subdued banking space: Pankaj Pandey, ICICIdirect.com

In a chat with ET Now, Pankaj Pandey, HoR, ICICIdirect.com, shares his views on HDFC.

ET Now: What is the deal with HDFC Limited suddenly? Why is that stock on a tear? What has changed?

Pankaj Pandey: There is possibility of a merger benefit which people would be accruing but, as of now, it is too early to comment on that because we still do not know what would be the way forward but overall, the entire banking and financial service space is subdued.

NPA concerns are still persisting largely contributed by PSU banks. We would expect some relief on this particular front over the next one or two quarters and that is where we would expect some kind of improvement in the overall performance of the entire banking and financial services space.