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HDFC Bank Q1: Business scales new highs, will its stock follow suit?

HDFC Bank’s valuation has fallen while the long-term growth and profitability outlook are very strong

July 20, 2020 / 02:52 PM IST
HDFC Bank Q1: Business scales new highs, will its stock follow suit?

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The pandemic-led economic crisis represents a litmus test for the banks. Rating agency CRISIL says credit growth of the banking sector is likely to nosedive to a multi-decade low of 0-1 percent in the current fiscal year (FY21). In addition, the moratorium offered by the regulator on loan payments is going to take the banking industry into uncharted territory. This virus-induced crisis is unprecedented and so will its fallout be on banks’ loan growth, margins, asset quality and solvency. Amidst...

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