2. As of noon trading, HDFC Bank ( HDB) is down $0.65 (-1.5%) to $42.34 on light volume Thus far, 117,879 shares of HDFC Bank exchanged hands as compared to its average daily volume of 720,600 shares. The stock has ranged in price between $42.30-$43.00 after having opened the day at $42.92 as compared to the previous trading day's close of $42.99.

HDFC Bank Limited, together with its subsidiaries, provides retail banking, wholesale banking, treasury, and other financial services to individual and business customers in India. HDFC Bank has a market cap of $33.4 billion and is part of the financial sector. The company has a P/E ratio of 34.4, above the S&P 500 P/E ratio of 17.7. Shares are up 5.6% year to date as of the close of trading on Friday.

TheStreet Ratings rates HDFC Bank as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins, solid stock price performance and increase in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. Get the full HDFC Bank Ratings Report now.

Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100%. See his top picks for 14-days FREE.

If you liked this article you might like

Europe Drifts Lower While Ex-Dividends Pummel London

Lloyds Profit Up Despite Increased Impairment Charge

Stocks to Watch if U.K. House Prices Do Crash

European Stocks Slip After ECB Turns Toward the Exit