External broker reports(aggregated public sources), Sharekhan

Sharekhan

External broker reports(aggregated public sources)

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>HDFC Bank reported broadly in-line performance with strong deposit growth in Q2FY2025.</li><li>Given the transition period, management’s relentless focus is towards balance sheet management and stability in return ratios.</li><li>The bank shared its glide path for loan growth. In FY2025, it would probably grow slower than the system.</li></ul>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.

HDFC Bank reported broadly in-line performance with strong deposit growth in Q2FY2025.Given the transition period, management’s relentless focus is towards balance sheet management and stability in return ratios.The bank shared its glide path for loan growth. In FY2025, it would probably grow slower than the system.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.

HDFC Bank Ltd - Better Visibility Going Ahead

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

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>HDFC Bank (HDFCB) reported steady performance in 2QFY25, with net earnings of INR168.2b (~3% beat).</li><li>NIMs declined 1bp QoQ to 3.46%, while the C/D ratio declined sharply by ~4% QoQ to 99.8%.</li><li>Provisions were 5% higher than MOFSLe at INR27b.</li></ul>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.

HDFC Bank (HDFCB) reported steady performance in 2QFY25, with net earnings of INR168.2b (~3% beat).NIMs declined 1bp QoQ to 3.46%, while the C/D ratio declined sharply by ~4% QoQ to 99.8%.Provisions were 5% higher than MOFSLe at INR27b.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.

HDFC Bank - Steadily Moving Towards Improved Growth and Profitability

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Eyeing accelerated LDR improvement: HDFCB has re-iterated its stance of reducing its LDR to pre-merger levels of mid-to-high 80%.</li><li>The management indicated that the bank would adopt an accelerated approach to trim LDR to the desired level from the current levels of ~100%.</li><li>While deposit growth has seen a strong pick-up in Q2FY25, the bank will continue to maintain the momentum, with a focus on granular retail deposits. </li></ul>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.

Eyeing accelerated LDR improvement: HDFCB has re-iterated its stance of reducing its LDR to pre-merger levels of mid-to-high 80%.The management indicated that the bank would adopt an accelerated approach to trim LDR to the desired level from the current levels of ~100%.While deposit growth has seen a strong pick-up in Q2FY25, the bank will continue to maintain the momentum, with a focus on granular retail deposits. 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.

HDFC Bank Ltd - Balancing Between Profitable Growth and LDR Improvement!

<ul><li>HDFC Bank’s business update for Q2FY2025 indicated that deposit mobilisation (up 15.1% y-o-y/5.1% q-o-q) has been strong (above estimates), led by term deposits (19.3% y-o-y/6.7% q-o-q).</li><li>CASA grew by 8.0% y-o-y/2.3% q-o-q. CASA ratio stood at 35.3% vs. 37.6% y-o-y/36.3% q-o-q.</li><li>Gross advances grew by 7.0% y-o-y/1.3% q-o-q. Given the focus is on normalisation of the credit-deposit ratio faster, this is an excellent outcome considering the transition period. </li></ul>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.

HDFC Bank’s business update for Q2FY2025 indicated that deposit mobilisation (up 15.1% y-o-y/5.1% q-o-q) has been strong (above estimates), led by term deposits (19.3% y-o-y/6.7% q-o-q).CASA grew by 8.0% y-o-y/2.3% q-o-q. CASA ratio stood at 35.3% vs. 37.6% y-o-y/36.3% q-o-q.Gross advances grew by 7.0% y-o-y/1.3% q-o-q. Given the focus is on normalisation of the credit-deposit ratio faster, this is an excellent outcome considering the transition period. 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.

<ul><li>HDFCB’s advances grew by 52% YoY and remained flattish QoQ. Deposits growth was disappointing at 24% YoY and flat QoQ.</li><li>CASA Deposits grew by ~6% YoY but de-grew by 5% QoQ, while TDs grew by 38/3% YoY/QoQ.</li><li>CASA Ratio improved to 36.3% vs 38.2% QoQ. C-D Ratio stood at 103.5% vs 104.4% QoQ.</li></ul>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.

HDFCB’s advances grew by 52% YoY and remained flattish QoQ. Deposits growth was disappointing at 24% YoY and flat QoQ.CASA Deposits grew by ~6% YoY but de-grew by 5% QoQ, while TDs grew by 38/3% YoY/QoQ.CASA Ratio improved to 36.3% vs 38.2% QoQ. C-D Ratio stood at 103.5% vs 104.4% QoQ.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.

HDFC Bank Ltd. - Deposit Accretion and C-D Ratio Improvement Assume Priority!

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.

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HDFC Bank (HDFCB IN)

HDFC Bank Ltd - Better Visibility Going Ahead

HDFC Bank reported broadly in-line performance with strong deposit growth in Q2FY2025. Given the transition period, management’s relentless focus...

Sharekhan

HDFC Bank - Steadily Moving Towards Improved Growth and Profitability

NIMs declined 1bp QoQ to 3.46%, while the C/D ratio declined sharply by ~4% QoQ to 99.8%. Provisions were 5% higher than MOFSLe at INR27b.

Motilal Oswal

HDFC Bank Ltd - Balancing Between Profitable Growth and LDR Improvement!

Eyeing accelerated LDR improvement: HDFCB has re-iterated its stance of reducing its LDR to pre-merger levels of mid-to-high 80%.

Axis Direct

HDFC Bank Ltd - Deposit Growth Shines

HDFC Bank’s business update for Q2FY2025 indicated that deposit mobilisation (up 15.1% y-o-y/5.1% q-o-q) has been strong (above estimates), led by...

Sharekhan

HDFC Bank Ltd. - Deposit Accretion and C-D Ratio Improvement Assume Priority!

HDFCB’s advances grew by 52% YoY and remained flattish QoQ. Deposits growth was disappointing at 24% YoY and flat QoQ. CASA Deposits grew by ~6%...

Axis Direct

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