HDFC Bank Stock Falls 4.5% Post Q1 Earnings: Check Target Price

Shares of HDFC bank fell 4.5% in trade today, the stocks closed at Rs . This came after the bank announced its Q! Earnings which disappointed the investors. In the recent weeks the stock was on a winning path on a probable increase in MSCI weightage. However, the bank’s deposit growth was soft, growing at 15.3% year on year on a pro-forma basis. Bank’s loan book and deposits grew 14.9% and 16.5% annually. Bernstein has an overweight rating on the stock with Target of Rs 2,100. It noted that a lower Current account Savings account or CASA might offset gains from a better loan mix. Macquarie expects NIMs to remain broadly unaffected.
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[@Shashikantkatakiya]

Good ancour