The flat deposit growth was below what the bank managed a year ago, Jefferies analysts said in a note, calling it ‘slightly disappointing.’
Bengaluru: Shares of India’s top private lender HDFC Bank fell over 3% on Friday, a day after it reported a drop in loans during the three months ended June 30, and no rise in deposits from the previous three months.
The flat deposit growth was below what the bank managed a year ago, Jefferies analysts said in a note, calling it “slightly disappointing.”
Shares of HDFC Bank – down 2.4% this year compared with gains of over 11% in the benchmark Nifty 50 index – were set for their biggest one-day drop since June 4. The stock had hit a record high earlier this week on hopes of a bigger weight in a key MSCI index.
