External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Equity Bottom-Up

<p>HDFCB reported an in line performance, though margin fell by 10bp QoQ on higher interest reversals, unfavorable asset mix, and lower revolving balances on Credit Cards. The bank further shored up its contingent provisions by INR6b to ~INR66b (~0.6% of loans), though this dragged net earnings growth to 16% YoY the lowest in the past many years.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

HDFCB reported an in line performance, though margin fell by 10bp QoQ on higher interest reversals, unfavorable asset mix, and lower revolving balances on Credit Cards. The bank further shored up its contingent provisions by INR6b to ~INR66b (~0.6% of loans), though this dragged net earnings growth to 16% YoY the lowest in the past many years.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Earnings/PPOP in line; margin remains under pressure on an unfavorable asset mix

External broker reports(aggregated public sources), Axis Direct

Axis Direct

<p>We believe HDFCB remains one of the resilient stocks in the sector. We currently have a BUY on the stock with a target price of Rs 1785/share (SOTP basis core book at 3.6x FY23E and Rs 40 Subsidiary Value).</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We believe HDFCB remains one of the resilient stocks in the sector. We currently have a BUY on the stock with a target price of Rs 1785/share (SOTP basis core book at 3.6x FY23E and Rs 40 Subsidiary Value).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

HDFC Bank Ltd. offers a wide range of services to the global corporate sector. The Bank provides corporate banking and custodial services and is active in the treasury and capital markets. HDFC also markets project advisory services and capital market products such as Global Deposit Receipts, Euro currency loans, and Euro currency bonds.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

HDFC Bank (HDFCB IN)

Earnings/PPOP in line; margin remains under pressure on an unfavorable asset mix

HDFCB reported an in line performance, though margin fell by 10bp QoQ on higher interest reversals, unfavorable asset mix, and lower revolving...

Motilal Oswal

Company Update:HDFC Bank

We believe HDFCB remains one of the resilient stocks in the sector. We currently have a BUY on the stock with a target price of Rs 1785/share (SOTP...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)