Shares in HDFC slumped 3 per cent after investors remained disappointed with the company's numbers. While the net profits were in line, investors fretted over the growth in loan book.
The loan book for the institution grew at 18 per cent for the Sept quarter, as against 19 per cent in the June quarter and 20 per cent in the March quarter.
Housing Development Finance Corporation: Quotes, News
BSE2729.950 (0.00%)
NSE2724.30 (0.00%)
Increasing competition from banks and other NBFCs has ensured that competition in the segment remains high. This also had an effect on the net interest income of the institution that grew at 6 per cent. Asset quality was stable as has always been the case with HDFC.
The shares of HDFC were last trading at Rs 1279, down almost 3 per cent over Monday's close.
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