Shares in HDFC Bank tanked by over 1% in early trade on Monday after the private lender for the period ended December quarter increased its provisions and contingencies to Rs. 3043.6 crore , registering a growth of huge 38%, in comparison to Rs. 2211.5 crore reported in the year ago quarter. The bank said that special loss provisions made in the period included one-offs of approximately Rs 700 crore primarily relating to corporate accounts.
HDFC Bank Shares Tank Over 1% On Higher Provisioning In Q3FY20
The increase in specific loan loss provisions jumped by 66.2 per cent to Rs 2,883.6 crore in the quarter from Rs 1,734.6 crore the previous year.
From the day's high, the stock of HDFC Bank was dragged as much as 3.4% to hit an intra-day low of Rs. 1254.15 on the BSE.
At 11:24 am, the stock on BSE traded at Rs. 1258.75 or down by 1.49%.
GoodReturns.in
Notifications
Settings
Clear Notifications
No New Notifications
Notifications
Use the toggle to switch on notifications
Block for 8 hours
Block for 12 hours
Block for 24 hours
Don't block
To start receiving timely alerts, as shown below click on the Green “lock” icon next to the address bar
Click it and Unblock the Notifications
Close X
Close X
To Start receiving timely alerts please follow the below steps:
Click on the Menu icon of the browser, it opens up a list of options.
Click on the “Options ”, it opens up the settings page,
Here click on the “Privacy & Security” options listed on the left hand side of the page.
Scroll down the page to the “Permission” section .
Here click on the “Settings” tab of the Notification option.
A pop up will open with all listed sites, select the option “ALLOW“, for the respective site under the status head to allow the notification.
Once the changes is done, click on the “Save Changes” option to save the changes.
Click it and Unblock the Notifications
Sign in with Google