HDFC Bank

about 8 years ago

HDFC Bank hit a new high today at Rs.1538 and the market cap is so very close to the Rs.4 lakh mark, currently at Rs. 3,92,441 crore.

The market continues to be remain extremely bullish about HDFC Bank, more so after its Q4FY17 performance. After the dismal show by Yes Bank and so-so numbers of Indusind Bank, HDFC Bank is where all seem to be headed.

The Bank declared its numbers on Friday and post these, most of the brokerage and fund houses have put out a BUY or ACCUMULATE call on the stock.

Its net profit beat most estimates, coming in at Rs.3990 crore, up 18% (YoY). There was a 21.5% rise in NII while net interest margin for the quarter was 4.3%. Non-interest income including fees and commissions grew 20.3%.

Asset quality remained stable with Gross NPA status quo at 1.05% and Net NPA was at 0.33% v/s 0.32% (QoQ).