HDFC Bank Shares 8% Gire January Mein, Growth Worries Ke Karan 9-Month Low Par

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AuthorIshaan Verma|Published at:
HDFC Bank Shares 8% Gire January Mein, Growth Worries Ke Karan 9-Month Low Par
Overview

HDFC Bank stocks January mein 8% gir gaye hain, ₹915.40 ke 9-month low tak pahunch gaye hain. Yeh fall Q3 mein 11% profit increase ke bawajood aaya hai. Analysts bank ki future growth ko lekar cautious hain, unhe loan-to-deposit ratio zyada lag raha hai.

HDFC Bank ka stock kaafi gir gaya hai, January mein hi 8% kam ho gaya aur 9-month low par pahunch gaya. Yeh performance benchmark BSE Sensex se kaafi kam hai, jo isi dauran 3.8% gira tha. Shares ₹915.40 par trade kar rahe the, jo ki April 11, 2025 ke baad sabse kam tha. Yeh investors ki concerns ko dikhata hai, bhale hi Q3 ki financial report mazboot lagi ho.

Bank ne Q3FY26 ke liye ₹18,600 crore ka net profit report kiya, jo 11% saal-dar-saal badhotri hai, treasury income mein izafa hone se. Net interest income 6.4% badhkar ₹32,620 crore ho gaya, aur net interest margins 8 basis points badhkar 3.35% ho gaye. Lekin, 12% ki ahem loan growth ke saath 11.6% deposit growth ne loan-to-deposit ratio ko ek khatarnak 98.7% tak pahuncha diya. Yeh high ratio aage chal kar liquidity aur funding costs par potential pressure ke signals deta hai.

Management dwara deposit repricing aur kam borrowing costs se margins sudharne ki guidance ke bawajood, analysts long-term growth trajectory ko lekar skeptical hain. InCred Equities ne FY27F aur FY28F ke liye margins 3.4% aur 3.5% project ki hain, lekin deposit growth par delivery ki zarurat par zor diya hai. ICICI Securities ne ₹1,150 ke revised target price ke saath BUY rating maintain ki hai, jo bank ko 2.3x FY28E ABV par value karta hai. YES Securities ne bhi ₹1,190 ke target ke saath BUY reiterate kiya hai, yeh acknowledge karte hue ki LDR normalization ek medium-term goal hai aur retail deposit franchise ko mazboot karne par focus hai.

Jabki margin recovery ummeed se zyada dheere ho rahi hai, brokerages gradual improvement foresee karte hain jo term deposit repricing, high-cost borrowings ke replacement, aur strong CASA mobilization se driven hogi. Bank ki execution capabilities ko strong maana gaya hai, retail deposit franchise ko mazboot karne par focus ke saath CASA Deposits mobilize karne ke liye. Analysts ko lagta hai ki yeh efforts, benign credit costs aur strong capital position ke saath milkar, HDFC Bank ko FY26-28E mein 1.8-1.9% ke return on assets aur 14-16% ke return on equity achieve karne mein madad karenge.

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