For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

HDFC Bank Shares Fall As Provisions Jump

|

Shares in HDFC Bank fell nearly 2.5 per cent, after the bank's provisions rose and so did the net non performing assets and gross non performing assets. The shares of the bank were last trading at Rs 2314, down 2.5 per cent over the previous close.

The shares, which normally do not react sharply, fell, as investors were unhappy with the provisions. Also, given that the bank's stock trades at rich multiples, any scope for disappointment can lead to a sharp sell-off.

HDFC Bank Shares Fall As Provisions Jump
 

Provisions and contingencies for the quarter ending June 30, 2019, were placed at Rs 2,613 crores, against Rs 1,629.4 crore for the same quarter a year ago. Gross non-performing assets stood at 1.40 per cent of gross advances as on June 30 as against 1.33 per cent a year ago.

Meanwhile, the Sensex and the Nifty opened the day sharply lower, led by fall in heavyweights like Reliance Industries, HDFC twins and ICICI Bank.

Indian markets are expected to see further selling pressure in the days to come, on persistent selling pressure. Investors should exercise greater caution, and invest only on declines. Foreign Portfolio Investors have already sold as much as Rs 6,500 crores in the last few trading sessions and they may continue to press sales in the coming days.

GoodReturns.in

Read more about: hdfc bank shares stocks nifty sensex
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more