HDFC's loan exposure to wholesale, developer segments may impact its stock

Since the beginning of this year, the housing finance firm's stock lost 6% against the 4% gain in Sensex

Housing finance major HDFC has been one of the noticeable laggards among heavyweight stocks in recent times.
 
Since the beginning of 2019, the stock has lost about six per cent against the BSE Sensex’s four per cent gain. But first, the positives. HDFC is well insulated despite the recent tightening of regulatory norms. With capital adequacy at over 17 per cent and borrowing to net owned funds ratio at 6.2 per cent, investors don’t have any regulatory pressures to deal with.
 
Yet, there could be possible concerns from the housing financiers’ 27 per cent exposure to wholesale and