ICICI Bank has outpaced HDFC Bank in terms of market valuations following an impressive performance in the third quarter. The latest financial reports indicate a robust showing by ICICI Bank, causing a shift in investor sentiment. The surpassing of HDFC Bank in valuations highlights the former's resilience and strategic moves in the banking sector.
An overall improvement in earnings profile as evidenced in the recent Q3 results is aiding ICICI Bank. With the visibility of financials a tad when compared to HDFC Bank, the former is anticipated to maintain this valuation gap in the near term.