HDFC Bank shares slip after ₹19,221 cr March quarter profit
Business
HDFC Bank's shares slipped over 1% on Monday, right after the bank posted a 9% rise in net profit to ₹19,221 crore for the March quarter.
The drop surprised some, since profits were up thanks to better loan quality and fewer bad loans.
But investors seemed underwhelmed by slow growth in core banking income: net interest income grew just 3%, while deposits rose faster than loans.
Motilal Oswal retains HDFC Bank buy
Even with the stock taking a hit, big brokerages like Motilal Oswal are staying positive and keeping their buy ratings.
They believe HDFC Bank is set for stronger growth soon, especially as merger integration continues and investors hope for stronger loan expansion in the coming quarters.