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06 Sep 2025 |
HDFC Bank
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Consensus Share Price Target
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963.40 |
1138.23 |
- |
18.15 |
buy
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25 Jul 2025
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HDFC Bank
|
Deven Choksey
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963.40
|
2274.00
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2014.20
(-52.17%)
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Pre-Bonus/ Split |
Accumulate
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For Q1FY26, Net interest income (NII) grew by 5.4% YoY (-2.0% QoQ) to INR 314.4 Bn., above our estimates by 4.8%, primarily driven by lower interest expenses on account of decline in cost of funds, reflecting efficient liability management.
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24 Jul 2025
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HDFC Bank
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Motilal Oswal
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963.40
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2300.00
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2014.20
(-52.17%)
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Pre-Bonus/ Split |
Buy
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HDFC Bank’s (HDFCB) annual report highlights the bank’s focus on sustainable growth over the medium term as it continues to invest in strengthening its physical infrastructure and digital capabilities.
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21 Jul 2025
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HDFC Bank
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IDBI Capital
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963.40
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2250.00
|
2000.50
(-51.84%)
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Pre-Bonus/ Split |
Buy
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HDFC Bank reported improvement in credit growth to 7% YoY (5% YoY Q4 FY25) while deposit growth stood at 16% YoY (2% QoQ) led by focus on lowering of CD ratio; at 95.1% vs 96.5% QoQ. Management maintained guidance for improvement in credit growth similar to industry average during FY26 and higher than industry during FY27. NIMs declined to 3.35% vs 3.46% led by rate cut impact; however, we need to watch out for further impact of rate cut on NIMs as ~70% loan book is linked to EBLR. Asset quality slightly deteriorated as GNPA stood at 1.4% vs 1.33% QoQ due to seasonality. NII grew by 5% YoY led by...
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21 Jul 2025
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HDFC Bank
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Axis Direct
|
963.40
|
2300.00
|
2000.50
(-51.84%)
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Pre-Bonus/ Split |
Buy
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We maintain our BUY recommendation on the stock.
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20 Jul 2025
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HDFC Bank
|
Prabhudas Lilladhar
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963.40
|
2150.00
|
1957.40
(-50.78%)
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Pre-Bonus/ Split |
Buy
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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...
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20 Jul 2025
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HDFC Bank
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ICICI Securities Limited
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963.40
|
2350.00
|
1957.40
(-50.78%)
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Pre-Bonus/ Split |
Buy
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HDFC Bank (HDFCB) reported steady Q1FY26 results with PAT of INR 182bn, up 12% YoY, driven by 5% YoY rise in NII. It has utilised one-off gains from HDB stake sale (INR 91bn) and tax credit (INR 11bn) towards floating provisions (INR 90bn) and contingent provisions (INR 17bn).
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20 Jul 2025
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HDFC Bank
|
Motilal Oswal
|
963.40
|
2300.00
|
1957.40
(-50.78%)
|
Pre-Bonus/ Split |
Buy
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HDFC Bank (HDFCB) reported a 1QFY26 profit of INR181.6b (12% YoY growth, 4% beat), aided by tax reversals (tax rate of 15%).
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20 Jul 2025
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HDFC Bank
|
Emkay
|
963.40
|
2300.00
|
1957.40
(-50.78%)
|
Pre-Bonus/ Split |
Buy
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HDFC Bank is gradually stepping up credit growth, although margin slipped by 23bps QoQ from a higher base in 4Q due to swift rate cuts and lower interest on IT refund.
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06 May 2025
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HDFC Bank
|
Geojit BNP Paribas
|
963.40
|
2192.00
|
1931.70
(-50.13%)
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Pre-Bonus/ Split |
Buy
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21 Apr 2025
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HDFC Bank
|
BOB Capital Markets Ltd.
|
963.40
|
2213.00
|
1927.10
(-50.01%)
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Pre-Bonus/ Split |
Buy
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CD ratio continued to moderate with slowdown in credit growth, while deposit growth higher than system growth
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21 Apr 2025
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HDFC Bank
|
Prabhudas Lilladhar
|
963.40
|
2125.00
|
1927.10
(-50.01%)
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Pre-Bonus/ Split |
Buy
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HDFCB saw soft quarter as core PAT was 3.0% lower to PLe due to lower fees and NII. Adjusted for tax refund, NIM at 3.53% was 4bps lower to PLe. However, asset quality was better as GNPA declined by ~8bps QoQ to 1.33% owing to lower net slippages. LDR declined over FY24 to FY25 from 104.5% to 96.5% but further reduction may happen at a slower pace in FY26 as credit growth would pick-up. Bank has guided to reach LDR of 85-90% in FY27; we are factoring LDR to reach 92.5%/89.0% in FY26/27E which would imply a loan CAGR of 10%. Due...
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21 Apr 2025
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HDFC Bank
|
Axis Direct
|
963.40
|
2250.00
|
1927.10
(-50.01%)
|
Pre-Bonus/ Split |
Buy
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We maintain our BUY recommendation on the stock.
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20 Apr 2025
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HDFC Bank
|
Emkay
|
963.40
|
2200.00
|
1906.70
(-49.47%)
|
Pre-Bonus/ Split |
Buy
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After growth calibration for the past one year, and under pressure to bring down LDR and manage PSL/margins, HDFC Bank reported better credit growth in 4Q at 5% YoY/4% QoQ as well as stable core margins.
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20 Apr 2025
|
HDFC Bank
|
ICICI Securities Limited
|
963.40
|
2200.00
|
1906.70
(-49.47%)
|
Pre-Bonus/ Split |
Buy
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HDFC Bank (HDFCB) reported Q4FY25 PAT of INR 176bn (RoA steady at ~1.9%) led by stable core NIM QoQ and contained opex. Deposits growth (14% YoY) remains driven by term deposits (20% YoY) while CA grew 18% QoQ (up 1% YoY) due to seasonality.
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20 Apr 2025
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HDFC Bank
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IDBI Capital
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963.40
|
2200.00
|
1927.10
(-50.01%)
|
Pre-Bonus/ Split |
Buy
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20 Apr 2025
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HDFC Bank
|
Motilal Oswal
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963.40
|
2200.00
|
1906.70
(-49.47%)
|
Pre-Bonus/ Split |
Buy
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HDFC Bank (HDFCB) reported a 4QFY25 net profit of INR176.2b (7% YoY growth; in line). The bank’s NII grew 10.3% YoY to INR320.6b (5% beat), boosted by strong loan growth and INR7b of interest on IT refunds.
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19 Apr 2025
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HDFC Bank
|
Sharekhan
|
963.40
|
2300.00
|
1906.70
(-49.47%)
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Pre-Bonus/ Split |
Buy
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Q4FY25 numbers were decent with slight beat on earnings led by NIM expansion. NII at Rs. 32,066 crore (up 10% y-o-y/5% q-o-q) above estimates, led by higher NIMs. NIMs improved by 11 bps q-o-q to 3.54%, however excluding the impact of an ITR refund, core margins rose by 3 bps q-o-q.
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23 Jan 2025
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HDFC Bank
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Axis Direct
|
963.40
|
2000.00
|
1664.90
(-42.13%)
|
Target met |
Buy
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We maintain our BUY recommendation on the stock.
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23 Jan 2025
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HDFC Bank
|
Emkay
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963.40
|
2100.00
|
1664.90
(-42.13%)
|
Pre-Bonus/ Split |
Buy
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HDFC Bank reported a slight miss (of 2%) on PAT, which came in at Rs167bn/1.8% RoA, primarily due to slower credit growth and higher provisions. Deposit growth remains healthy at 16% YoY/2.5% QoQ (up by Rs0.6trn QoQ), but credit growth fell to a new low of 3% YoY as the bank focused on LDR management (down by160bps QoQ to 98%).
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23 Jan 2025
|
HDFC Bank
|
BOB Capital Markets Ltd.
|
963.40
|
2008.00
|
1664.90
(-42.13%)
|
Target met |
Buy
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CD continued to decline, while advances growth is likely to be lower than system for FY25, in line for FY26 and faster in FY27
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