Stock Of The Day: HDFC Bank Deposit Rise In Q4—Key Levels

Here's all you need to know about HDFC Bank's Q4 update.

<div class="paragraphs"><p>The exterior of HDFC Bank's branch in Churchgate. (Source: Vijay Sartape/BQ Prime)&nbsp;</p></div>
The exterior of HDFC Bank's branch in Churchgate. (Source: Vijay Sartape/BQ Prime) 

Private lender HDFC Bank Ltd.'s fourth-quarter update provisional figures showed growth in deposits and current account savings account ratio.

Deposits grew 7.5% quarter-on-quarter to Rs 23.8 lakh crore in the quarter ended March 31, according to an exchange filing on Thursday. While gross advances rose 1.6% sequentially to Rs 25 lakh crore, the filing showed.

The lender's CASA witnessed growth of 8.8% QoQ, contributing to an improved ratio of 38.2%, compared to the previous quarter's 37.7%.

Shares of the bank rose 2.97% before paring gains to trade 2% higher at 10:27 a.m., compared to a 0.67% rise in the Nifty Bank.

The stock has fallen 8.60% over the past year.

Key Levels To Watch

  • Resistance level: Rs 1,600 per share (High made on day of Q3 earnings).

  • Support level: Rs 1,420 per share (one-month low). 

Fourth-Quarter Update

Domestic retail loans increased by 3.7% sequentially to Rs 43,700 crore; commercial and rural banking increased by 4.2% QoQ to Rs 32,300 crore; and corporate loans decreased by 2.2% sequentially to Rs 9,800 crore.

The bank's deposits grew 7.5% sequentially to Rs 23.8 lakh crore. Retail deposits increased by 6.9% QoQ to Rs 1.28 lakh crore, while wholesale deposits jumped 10.9% QoQ to Rs 38,000 crore.

Street View

Of the 50 analysts tracking the company, 45 maintain a 'buy' and five recommend a 'hold', according to Bloomberg data.

HDFC Bank Q4 Updates: Deposits Rise By Rs 1.66 Lakh Crore