Impressed by HDFC Bank’s stellar Q3 numbers, analysts hike target price
January 18, 2021
Stock hits all-time record of ₹1,503
The stock of HDFC Bank recorded its all-time high on Monday as analysts remained bullish on the stock and hiked the price target after the bank unveiled strong third-quarter results.
After recording the peak of ₹1,503 intra-day, shares on the BSE closed the day at ₹1,483.20, up ₹16.85, or 1.15 per cent. HDFC Bank’s shares opened at ₹1,472.80 against its previous close of ₹1,466.35. On the NSE, the private bank hit the peak of ₹1,502.85.
Steady performance
While brokerages remained bullish on the stock, today’s rally was mainly on account of short covering in F&O as some had expected the stock to cool off, analysts said.
HDFC Bank Q3 results: Net profit jumps to ₹8,758 crore; NII rises 15%
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Asset quality of the bank has seen improvement in the December quarter
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HDFC Bank on Saturday reported a 18.1% year-on-year increase in net profit of ₹8,758.3 crore for the quarter ended in December 2020. The profit in the year ago period was at ₹ ₹7,416.48 crore. The private lender s net interest income, the difference between interest earned and interest expended, grew 15.1% year-on-year to ₹16,317.6 crore during the quarter under review. NII was ₹14,172.9 crore in the corresponding period. NII was driven by advances growth of 15.6% and a core net interest margin for the quarter of 4.2%, the bank said.
HDFC Bank To Report Q3 Numbers Today; Here s What To Expect moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
HDFC Bank Q3 results: Net profit rises 18% to Rs 8,758 crore; NII grows 15%
The rise in net profit came on the back of increase in net interest income, which grew 15.1 per cent to Rs 16,317.6 crore in December quarter from Rs 14,172.19 crore in same quarter last fiscal
BusinessToday.In | February 2, 2021 | Updated 16:54 IST
HDFC Bank reported 18.1 per cent increase in net profit for the quarter ended December 31, 2021. For the quarter under review, the private sector lender posted a standalone net profit of Rs 8,758.29 crore, as opposed to Rs 7,416.48 crore in the year-ago period.
The rise in net profit came on the back of increase in net interest income (NII), the difference between interest earned and interest expended. The bank s NII for December quarter this fiscal grew 15.1 per cent to Rs 16,317.6 crore from Rs 14,172.19 crore in the corresponding quarter last fiscal. Advances growth of 15.6 per cent and core net interest margin of 4.2 per cent drove the rise in NII.
HDFC Bank Q3 Profit Jumps 18% To Rs 8,758 Crore, Asset Quality Improves Sequentially moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.