HDFC Bank shares climb nearly 9% from 52-week low; Macquarie retains 'Outperform' tag
HDFC Bank moved higher in a banking & credit development.
· Business Today Mkts
Macquarie identified retail growth, particularly retail unsecured loans, as one of the priorities for the new CEO. It also highlighted the need to focus on CASA deposits, enhance the bank's technology architecture, improve service culture and increase cross-selling and synergies across the group's businesses.
The analysis
HDFC Bank reported movement of 9%. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -1.5% on the day at ₹692.20, and has returned -14.6% over three months. It sits 31% below its 52-week high, which means a good deal of bad news was already in the price. The banks sector has moved -1.7% over the same period, so HDFC Bank is running 12.9 points behind its peers.
For HDFC Bank, the question is how much of this is already reflected in the price and how much re-rates the banks peer set alongside it.
Why it matters
- Credit growth and asset quality are the pulse of the financial sector, which is the largest weight in Indian indices.
Market context
- The company directly in focus is HDFCBANK.
- Sector exposure: Banks.
- The immediate tone of coverage reads positive.
In this story
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