HDFCB saw stable quarter as core PAT was largely in-line at Rs147bn after adjusting for one-time effects viz. (1) stake sale gains of Rs91.3bn on HDB listing (2) buffer provisions of Rs107bn and (2) lower tax rate at 14.7% pursuant to favorable IT order of Rs11.44bn. Buffer provisions stood at 82bps vs 96bps for ICICIB. As LDR has declined to 95% from 103.5% a year ago, focus is back on shoring up loan growth/CASA. Targeted medium term LDR is 87-90%. Bank is confident of achieving guided loan growth given strong domestic demand...