1777.70 -6.05 (-0.34%)
NSE Aug 07, 2020 15:31
Volume: 5.1M

Nirmal Bang Institutional
Strong Balance sheet; growth aided by non-individual HDFC Ltd (HDFC) reported NII of Rs32.1bn, 7% below our estimate. The weak growth in NII (up 4.6% YoY, down 9.7 QoQ) was due to NIM contraction (down 14bps YoY and 17bps QoQ on calc. basis). We note that the loan yield has contracted by ~26bps QoQ to 9.48% against a drop of ~18bps QoQ in cost of funds. Advances (net of ECL) grew by 10.5% YoY and 3.1% QoQ. Overall AUM grew by 11.7% YoY. Total disbursements stood at 71% of last year. In terms of incremental business (on AUM basis), the nonindividual segment contributed 83% while the rest came from the individual segment. Individual loans grew by 10.4% YoY while non-individual loans grew by 15.2% YoY. The retail disbursements were affected during the quarter due to the lockdown. However, successive month-on-month trend has been...
Housing Development Finance Corporation Ltd. is trading below it's 30 day SMA of 1832.0
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