Yes Bank shares slipped over 13 per cent in Monday s session after the private sector lender reported widening of losses during the quarter ended March 2021. The private sector lender s standalone net loss widened marginally to Rs 3,788 crore in the March quarter of FY21 as against a net loss of Rs 3,668 crore a year ago. The lender posted a net profit of Rs 148 crore in the December quarter. Following this development, the scrip hit an intra-day low of Rs 12.60 on the BSE. Later, it recouped some losses and was trading 4.26 per cent down at Rs 13.93 around 9.45 am. At the same time, the S&P BSE Sensex was down 0.69 per cent.
NEW DELHI: Foreign and domestic analysts gave a thumbs up to the December quarter earnings report of HDFC and said the numbers have reaffirmed the strength of its business model and the growth outlook remains intact.
Most of the analysts retained their bullish ratings and also maintained the target price of the stock with potential upside up to 24 per cent from its last closing price.
CLSA analysts Adarsh Parasrampuria and Mohit Surana said the mortgage lender’s third quarter performance was strong with a big beat on net interest income that increased by 26 per cent year-on-year.
“HDFC’s margins improved by 20 bps QoQ and 30 bps from June quarter lows. Near term margin performance should continue as RBI intends to keep system liquidity in surplus while there are strong incremental mortgage spreads in spite of the rate cut in mortgages,” the duo said.