HDFC Bank Shares Gain On Higher Deposits, Advances In Q2
Shares of HDFC Bank Ltd. gained after India's largest private lender reported a rise in advances and deposits in the second quarter.
Deposits rose 19% year-on-year to Rs 16.73 lakh crore in the quarter ended September, according to the bank's quarterly business update released on the bourses Tuesday.
Retail deposits were up 20.5% year-on-year and 5.5% sequentially.
Wholesale deposits increased 12.5% over the year earlier.
Advances rose 23.5% year-on-year to Rs 14.8 lakh crore.
CASA deposits aggregated to Rs 7.59 lakh crore, up 15.4% YoY.
CASA ratio was at 45% compared with 46.8% as on Sept. 30, 2021.
During the September quarter, HDFC Bank purchased loans aggregating Rs 9,145 crore through direct assignment route under the home loan arrangement with HDFC Ltd.
Shares of HDFC Bank rose as much as 2.82%, in line with the gains on Friday, the best since Aug. 30.
The trading volume was 0.9 times the 30-day average, when markets closed on Tuesday . Of the 45 analysts tracking the company, 40 maintain a ‘buy' and five suggest a ‘hold', according to Bloomberg data. The average of the 12-month target price implies an upside of 24.6%.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
