HDFC Bank, 3 other bank stocks wipe out Rs 1.5 lakh crore of investors' wealth after Q1. Time to buy the dip?

HDFC Bank, Axis Bank, Kotak Mahindra Bank and Yes Bank shares fell up to 9 percent this week after their Q1 results, wiping out over Rs 1.5 lakh crore of investor wealth and pulling the Nifty Private Bank index down more than 4 percent in four sessions. HDFC Bank reported a 5 percent YoY net profit rise to Rs 19,060 crore with NII up 7 percent, while Axis Bank profit grew 23 percent, Kotak 26 percent and Yes Bank 34 percent. Despite the selloff, analysts at Equirus and Macquarie flagged attractive valuations and named Axis Bank as their top pick, with positive or outperform views on ICICI Bank, HDFC Bank and Axis Bank.