HDFC Bank shares surge after q2 result should you buy sell or hold

HDFC Bank Share Price: HDFC Bank shares are under pressure in today’s trading on October 17. Despite strong results, the stock lost 4 per cent in intraday. However, as the trading day progressed, there was a slight strengthening in it. Let us tell you that on October 15, the bank has released its September quarter results. HDFC Bank’s consolidated net profit has increased by 22.3% to Rs 11,125 crore in the quarter ended September 30, 2021. The bank’s loan growth in the September quarter has been 23%. Along with this, the bank has benefited from good asset quality.

HDFC Bank’s net revenue grew 18.3% to Rs 28,869.8 crore in the July-September quarter. It was Rs 24,409.7 crore in the same quarter last year.

HDFC Bank’s retail loans grew by 21.4 in the September 2022 quarter. On the other hand, commercial and rural banking loans grew 31.3%. While the growth of other wholesale loans has been 27%.

HDFC Bank’s gross non-performing assets (NPAs) declined to 1.23% in the September 2022 quarter. The NPA of the bank was 1.35% in the same quarter last year. In the September quarter, HDFC Bank’s net non-performing assets stood at 0.33% of the total net advances or loans.

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What is the opinion of the legendary brokerage house

Nomura has given buy rating on HDFC Bank giving buy rating in this stock. The brokerage house says that the FY23 EPS estimate has been increased by 4.8 per cent. The result is better than expected due to less provisioning. The brokerage house has given a target of Rs 1690 per share on the stock.

Morgan Stanley, while giving his opinion on HDFC Bank, has said that a 20% jump in the profit of the bank is possible. Supported by strong earnings.

Credit Suisse, in its report released on HDFC Bank, has said that earnings are strong, asset quality has been stable. The bank has sufficient capital. It is one of the fastest growing banks.

ICICI Securities has given a Buy Rating on HDFC Bank with a target of Rs 1,874 for the stock.

BERNSTEIN has rated OutPerformance on HDFC Bank and has a target of Rs 1,890 for the stock.

At present, around 10.3 pm, HDFC Bank’s stock was seen at Rs 1,439.50 with a marginal gain of Rs 0.50, or 0.03 per cent, on the NSE.

(Disclaimer: The views expressed on moneycontrol.com are the personal views of the experts. The website or management is not responsible for the same. Moneycontrol advises users to consult a certified expert before taking any investment decision.

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