What's Going On With HDFC Bank Shares Today?
Portfolio Pulse from Nabaparna Bhattacharya
HDFC Bank Limited (NYSE:HDB) shares are trading lower due to a flat sequential deposit performance for the quarter ended June and a decrease in both advances and deposits. The bank is also considering selling a loan portfolio amid increased regulatory scrutiny and a high credit-deposit ratio. The stock is down 7.44% to $61.69.
July 05, 2024 | 5:57 pm
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HDFC Bank shares are down 7.44% due to flat sequential deposit performance and a decrease in both advances and deposits for the quarter ended June. The bank is also considering selling a loan portfolio amid increased regulatory scrutiny and a high credit-deposit ratio.
The decline in deposits and advances, coupled with the consideration of selling a loan portfolio, indicates potential liquidity issues and regulatory challenges. This has led to a significant drop in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100