HDFC Bank’s worst performance since 2013, COVID-19 outbreak to be blamed

For the first time in seven years, shares of HDFC Bank Ltd have underperformed in 2020. India’s largest private sector lender has gained a minimum of 11% so far in this year. According to Blommerang data, this is the bank’s worst performance since 2013. Except for a few banks like HDFC Bank, Kotak Mahindra Bank which was up with 16% and Bank of Maharashtra which was up with 3%, all BSE Bankex stocks are set to end 2020 with losses.