Profit

BSE Code: | NSE Code: | ISIN: | Sector:

NSE
1530.00
Change Change %
-22.05 -1.42%

Updated:05 Mar, 2021, 15:59 PM IST

BSE
1529.65
Change Change %
-23.55 -1.52%

Updated:05 Mar, 2021, 16:00 PM IST

Research Report Detail

Brokerage
Analyst
Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
Nomura
N/A
20-01-2021 Buy 1498.50 1690.00
N/A
Open Long (1Y)
20-01-2022

Nomura Maintains Buy On HDFC Bank

The bank reported 18 per cent net income growth on the back of 15 per cent loan growth. Revenue lines were a little soft but were offset by cost control (costs grew 8.6 per cent YoY). Asset quality was in line with collections back to near pre-COVID days. In contrast, HDB Financial reported a third-quarter loss under I-GAAP (had posted a loss in H1 under IndAS) even as gross NPL deteriorated further to 5.9 per cent versus 5.1 per cent in second quarter. We believe HDBF may still take 2-3 quarters to recover, assuming no further shock. Overall, we remain positive on HDFC Bank, for its steady growth and profitability.  

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