Price Analysis: HDFC Bank reported a resilient trend on Asset Quality and operating performance in 3QFY21. Just like the previous quarter, the bank used Analytical Model (Pro-forma basis) to declare NPA numbers. The reported GNPA ratio stood at 0.81% (against 1.38% under pro-forma basis and 1.08% in the previous quarter). However, the pro-forma slippages stood 51 bn for the quarter. During the quarter it reported sequentially lower provisioning expenses (34.1 bn v/s 37 bn in 2QFY21). At the same time, core fee and commission income increased 26% sequentially led by sharp uptick in retail loan origination along with higher third-party product distribution income and higher forex income. Thus, the bank reported sequential increase in PAT by 16.6%...