HDFC Bank share price falls ahead of Q2 results today: Here’s what to expect

Here we will give the details about the HDFC Bank share price as the public is searching about it over the internet. The public is going through the internet to know more about HDFC’s recent share price and not only that they also like to know the recent news regarding them as everyone is searching about it over the internet. So, for our readers, we have brought information about HDFC Bank’s share price in this article. Not only that we are also going to give the details about recent news regarding HDFC Bank’s share price as the public is searching about it over the internet. So, keep reading through the article to know more.

HDFC Bank share price falls ahead of Q2 results today

The share price of HDFC Bank decreased on Monday before the release of the September quarter data. Today, October 16, 2023, HDFC Bank, the largest private sector lender in the nation, is scheduled to release its financial results for the second quarter of FY24. Compared to Friday’s close of 1,536.75, HDFC Bank shares opened at 1,536.70 per share on the BSE. The stock, meanwhile, was under selling pressure and was currently trading more than 5% down. Shares of HDFC Bank were down 0.60% at 1,527.50 on the BSE at 9:50 a.m. Following its July 1 merger with mortgage lender Housing Development Finance Corporation (HDFC), this will be HDFC Bank’s first financial report for a quarter.

In Q2FY24, HDFC Bank’s net profit is anticipated to increase alongside net interest income (NII). The merger’s steep margin contraction, however, is anticipated to damage the lender. The generation of surplus liquidity could have an impact on HDFC Bank’s net interest margin in Q2FY24. However, analysts predicted that if loan growth ramps up and liquidity is used, margins could recover in H2FY24. According to HDFC Bank’s quarterly business statement, its gross advances increased significantly by 57.7% to reach 23,54 lakh crore as of September 30, 2023, up from 14,93 lakh crore the previous year.

Its deposits increased by over 29.9% from a total of about 16.73 lakh crore as of September 30, 2022, to roughly 21.73 lakh crore in Q2FY24. According to Motilal Oswal Financial Services, HDFC Bank’s margins will decline sequentially and loan growth will be under control. While margins are predicted to sequentially drop, asset quality is anticipated to rise for the amalgamated business. The brokerage anticipates that HDFC Bank’s NII will increase 33.6% YoY to 28.090 crore and that net profit will increase 39.4% YoY to 14 780 crore. A 31% YoY increase in operational profit of 22,790 crore is anticipated for the bank.