HDFC Bank, Hindustan Unilever squeezed as Indian middle class strugglesFalling wages and high inflation in India will have dented earnings at HDFC Bank Ltd, Kotak Mahindra Bank Ltd and Hindustan Unilever Ltd as the lenders brace for an asset quality deterioration and consumer firms grapple with penny-pinching customers.
HDFC Bank and Kotak Mahindra Bank are expected to report increases in bad loans, which should lead to higher provisions and weigh on quarterly profit.