Whalesbook
HDFC Bank Ka Q4 Performance: Numbers Toh Ache Hain!
HDFC Bank ne March 2026 quarter ke liye apne business figures share kiye hain, aur numbers toh ekdum solid hain! Gross advances saal dar saal 12.0% badhkar ₹29.60 lakh crore ho gaye hain. Period-end advances bhi 10.2% badhkar ₹30.58 lakh crore pahunch gaye. Ye growth aise time pe hui jab poore Indian banking sector mein loan growth slow hone ki ummeed thi. Aur deposits ka toh kehna hi kya, woh toh aur bhi tezi se badhe hain, 14.4% upar jakar ₹31.06 lakh crore ho gaye hain. Isse bank ka credit-to-deposit ratio bhi 95.31% par aa gaya hai, jo pehle 98.5% tha. Average CASA deposits bhi 10.8% badh kar ₹9.18 lakh crore ho gaye hain. Yeh numbers bank ke liye bohot positive signs de rahe hain.
Investor Ka Mood: FPIs Out, Desi Buyers In!
Lekin bhai, jab investors ki baat aati hai toh thoda alag picture dikh raha hai. March quarter mein Foreign Portfolio Investors (FPIs) ne apna stake kam kiya hai, jo pehle 47.67% tha woh ab 44.05% ho gaya hai. Is selling pressure ki wajah se stock recently bohot gira bhi hai. Par achhi baat yeh hai ki Indian Mutual Funds ne yeh becha hua maal kharid liya hai, unka stake 26.66% se badhkar 29.54% ho gaya hai. Retail investors bhi thode zyada active hue hain.
Trading Mein Bhi Shor Hai!
Ek aur interesting cheez hai Margin Trading Facility (MTF) mein badhti hui speculative trading. HDFC Bank ke MTF positions 47% jump kar ₹1,518 crore tak pahunch gaye hain April 2026 tak. Isse stock mein volatility badh sakti hai. Technicals bhi dekho toh stock oversold territory mein hai, RSI around 33 chal raha hai, jo ICICI Bank aur SBI ke aas paas hai. Stock apne 52-week high ₹1,020 se lagbhag 26% gir chuka hai aur March mein ₹727 ke low tak pahunch gaya tha.
Governance Issues: Yeh Tension Kyun Hai?
Sabse badi chinta governance ko lekar hai. March mein bank ke part-time Chairman Atanu Chakraborty ne ethical concerns ke chalte resign kar diya tha. Uske baad AT-1 bonds ki alleged mis-selling ko lekar bhi reports aayi hain. Yeh sab issues institutional investors ko dara rahe hain aur stock ko neeche kheench rahe hain. Valuation ke hisab se toh HDFC Bank, ICICI Bank aur Kotak Mahindra Bank se thoda kam P/E par trade kar raha hai, par SBI se zyada. Lekin market abhi valuation se zyada governance issues par dhyan de raha hai.
Analysts Ke Alag Alag Views
Analysts ka opinion bhi divide hai. Kuch, jaise JPMorgan, 'Overweight' rating de rahe hain aur target ₹1,083.33 diya hai, matlab 44% tak ka upside dikha rahe hain. Lekin kuch analysts 'Reduce' rating bhi de rahe hain. Brokerages jaise ICICI Securities ne target ₹1,120 set kiya hai. Toh market confused hai ki bank ke strong fundamentals par focus karein ya governance risks ko lekar cautious rahein.