HDFC Bank Ltd (HDFCBANK)

HDFC Bank Falls Amidst Correction Mode - 24 Jul, 2024

HDFC Bank is down 3.7% over the last month and has been in correction mode since hitting a record high. It contributed to Sensex's decline and fell 0.8%. Analysts have cut credit growth estimates for FY25-27 leading to earnings cuts of 2-6%, but retain BUY rating with TP of Rs2,000/sh.

HDFC Bank's Net Profit Grows Over 33% YoY in Q1FY25 - 23 Jul, 2024

HDFC Bank's Q1FY25 net profit grew over 33% YoY to Rs 16,474.85 crore. Analysts have assigned an accumulate rating on the stock.

HDFC Bank Reports Strong Q1 Results and Plans to Borrow $300 Million - 22 Jul, 2024

HDFC Bank reports strong Q1FY25 results with a 35% YoY increase in standalone net profit. HDB Financial Services plans to borrow $300 million through external commercial borrowing route. Analysts see HDFC Bank's loan-to-deposit ratio falling below the level in about two years. Shares of HDFC Bank gain over 2.7%.

HDFC Bank Reports Strong Q1 Earnings - 21 Jul, 2024

HDFC Bank reports a 35% rise in Q1 net profit to Rs 16,175 crore, but gross NPA ratio increases to 1.33%. The bank aims to reduce its high credit-deposit ratio while maintaining profitable growth. Brokerage Nuvama Institutional recommends buying the stock.

HDFC Bank Reports Strong Q1 Results and Approves HDBFS IPO - 20 Jul, 2024

HDFC Bank reports strong Q1 results with a 35% YoY growth in net profit and gains Rs 482.87 crore from revised investment portfolio norms. The bank also approves the process of listing its subsidiary HDB Financial Services Limited through a potential IPO and explores an additional stake sale outside the IPO process.

HDFC Bank Reports Strong CSR Spend and Expected Increase in Net Profit - 19 Jul, 2024

HDFC Bank announces strong CSR spend for FY24 and is expected to report a significant YoY increase in net profit for Q1FY25 despite a projected QoQ decline. The bank will release its unaudited financial statements for Q1FY25 on July 20.

HDFC Bank's Q1FY25 Results Expected to be Flat/Marginally Down - 18 Jul, 2024

HDFC Bank is expected to report a flat or marginal decline in Q1FY25 net profit and NII. The bank's CEO has outlined its focus on profitable growth, granular deposit mobilization, and reassessing its liability profile for financial stability. An investment firm has increased its holdings in the bank due to subsiding regulatory challenges.

HDFC Bank Directed to Pay Compensation for Failure to Send ATM Withdrawal Alerts - 17 Jul, 2024

The National Consumer Disputes Redressal Commission has directed HDFC Bank to pay Rs 45,000 and interest on Rs 35,000 withdrawn fraudulently from ATMs due to the bank's failure to send SMS alerts within four days. The decision holds HDFC Bank responsible for not rendering due service.

HDFC Bank Stock Drops Amidst Market Turmoil - 16 Jul, 2024

HDFC Bank's stock hit a record high of Rs 1,791 on July 3rd after reporting strong Q1 results but fell over 9% by July 12th. The bank's gross advances registered 53% YoY growth at Rs 24.87 lakh crore in the first quarter. On July 16th, HDFC Bank and ICICI Bank dropped just 1%, causing Bank Nifty and Bankex to fall more than 300 points.

HDFC Bank Trains Youth Under CSR Initiative; Revises MCLR Upwards - 15 Jul, 2024

HDFC Bank has trained 3.25 lakh youth under its CSR initiative while revising its MCLR upwards by up to 10 basis points on some tenures from July 8, 2024.

HDFC Bank to Conduct System Upgrade for 13.5 Hours - 13 Jul, 2024

HDFC Bank will conduct a system upgrade on July 13, 2024, transferring its Core Banking System (CBS) to a new engineered platform to enhance customer experience. Customers will have limited access to certain services during the 13.5-hour long upgrade, including NetBanking and MobileBanking services, while UPI services will be available from 12:45 pm onwards. Cash withdrawal and purchase payments will also be restricted up to a certain amount.

HDFC Bank Shares Bought by Mutual Funds Worth Over Rs 42,000 Crore in H1 2024 - 12 Jul, 2024

HDFC Bank saw significant buying from mutual funds in the first half of 2024, while foreign investors marginally cut down their exposure. The bank also announced a scheduled system upgrade aimed at enhancing customer experiences. Despite this, HDFC Bank's market value gained 17% in Q2 2024, reaching a market-cap of $154.4 billion. Banks' credit exposure to NBFCs stood at ₹15.6-lakh crore in May, indicating a 16% YoY growth.

HDFC Bank Faces Downgrade Amid Talks for Stake Sale - 11 Jul, 2024

HDFC Bank faces downgrade by Bank of America as it struggles with balancing positives and negatives over the current financial year. The bank is also in talks with private credit funds to sell a stake in its IPO-bound lending arm, HDB Financial Services. Meanwhile, HDFC Bank will migrate its core banking system to a new engineered platform on July 13.

HDFC Bank Stock Downgraded by BofA Amid Soft Deposit Growth - 10 Jul, 2024

Global brokerage firm BofA has downgraded HDFC Bank stock to neutral from buy due to valuation concerns. The bank's Q1FY25 deposit growth was soft, leading to a narrow risk-reward range for the stock over the next 12 months. Prabhudas Lilladher expects HDFC Bank's net profit to increase YoY but decrease QoQ. Customers pre-ordering Samsung phones can enjoy special offers including an Rs 8,000 cashback on HDFC Bank cards.

HDFC Bank Projected to Lead Private Lenders in Net Profit - 09 Jul, 2024

HDFC Bank is projected to see a 29% rise in net profit at Rs 15,460 crore. However, the bank's margin may remain under pressure due to deposit mobilization and funding costs.

HDFC Bank Faces Challenges with Slower Loan Growth and System Upgrade - 08 Jul, 2024

HDFC Bank faces challenges with a 0.8% sequential drop in gross advances, bears flocking to derivatives counter, and temporary limitations due to system upgrade. The bank also increased its MCLR lending rates.

HDFC Bank Shares Volatile Amidst Mixed News - 07 Jul, 2024

HDFC Bank's shares experience volatility amidst mixed news. Optimism over increased MSCI weightage is offset by weak Q1 results, causing bearish sentiment.

HDFC Bank Anticipates Strong Q1 Results Amidst System Upgrade and Eligibility for MSCI Index Weight Increase - 06 Jul, 2024

HDFC Bank is set to release strong Q1 results with a projected 34.5% YoY increase in net profit and 26.7% YoY growth in NII. The bank has also announced a system upgrade that will affect some services on July 13. Additionally, HDFC Bank's foreign ownership makes it eligible for an MSCI Indian index weight increase in the August 2024 rebalancing.

HDFC Bank Shares Fall After Decline in Advances and Deposits - 05 Jul, 2024

HDFC Bank's Q1FY25 results show a sequential decline in both advances and deposits, leading to a 4.55% drop in share prices. The bank is also exploring the sale of a loans portfolio amidst regulatory scrutiny.

HDFC Bank Faces Profit Booking Despite Strong Q1 Growth - 04 Jul, 2024

Despite reporting strong Q1 growth with deposits growing by 24.4% and gross advances reaching approximately ₹24.87 lakh crore, HDFC Bank faced profit booking causing a nearly 3% drop in shares. Additionally, negotiations for a minority stake in HDFC Bank's consumer lending unit by Mitsubishi UFJ Financial Group Inc. are stalling.