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HDFC Bank Shares Fall 2 Percent After Q2 Results As Margin Pressure Weighs
M
Moneycontrol•19-10-2026, 09:32
HDFC Bank Shares Fall 2 Percent After Q2 Results As Margin Pressure Weighs
- •HDFC Bank shares dropped 2 percent in early trade, making it one of the top losers on the Nifty 50 following its Q2 earnings report.
- •The bank reported a 4.7 percent year-on-year increase in standalone net profit to Rs 19,510 crore, broadly meeting market expectations.
- •Net interest income rose 9.7 percent to Rs 34,619 crore while the gross non-performing asset ratio improved to 1.11 percent.
- •Major brokerages like JPMorgan, Citi, and Bernstein maintained bullish ratings on the stock despite cutting target prices due to margin pressures.
Key Questions Answered
HDFC Bank reported a 4.7 percent year-on-year increase in standalone net profit to Rs 19,510 crore for the September quarter. Net interest income (NII) rose 9.7 percent to Rs 34,619 crore, while gross advances grew 16.3 percent year-on-year.
Major brokerages maintained bullish ratings despite concerns over margin pressure and modest earnings growth. JPMorgan and Citi lowered their target prices to Rs 970 and Rs 880 respectively, while Bernstein retained an Outperform rating with a target of Rs 1,150.
HDFC Bank's gross non-performing asset (GNPA) ratio improved to 1.11 percent as of September 30, 2026, down from 1.17 percent in the previous quarter and 1.24 percent a year earlier.
