HDFC Bank Shares fall over 3pc on rise of Bad Loans

Shares of HDFC Bank Ltd decline over 3pc on bourses on Monday to their lowest mark that was recorded since the period about 2 months.

This is in spite of the HDFC bank, in its regulatory filing on Saturday, reported a net profit of Rs.5568-Cr for the first quarter (Q1) April-June period, up 21% Y-o-Y rise in line with analysts’ estimates.

However, its non-performing assets or NPAs reportedly jumped 23.38% to Rs.11768.95-Cr in the quarter ended June 30, on QoQ basis. Net NPAs rose 22.71pc to Rs.3567.18-Cr.

HDFC Bank shares were among the top losers on both the Sensex& Nifty on Monday. On BSE, the stock opened at Rs.2353.00-per share, and declined to Rs.2281.90.

On the NSE, HDFC Bank shares opened at Rs.2345 and touched an intraday low of Rs.2181.25 per share, compared to its last close of Rs2375.65

During mid-market at 1.10pm, the HDFC Bank stock traded 3.65% lower at Rs. 2288.90apiece on the NSE, under-performing the benchmark Nifty index which was down 100 points at 11318.95. At the same time, the Sensex quoted lower at 37,952-level, down by 384 points.