Early results show investors will be very selective with bank stocks

HDFC Bank disappointed, while ICICI Bank's Q4 boosted sentiment lifting many peers too

Topics
Banking stocks | HDFC Bank shares | HDFC HDFC Bank

Devangshu Datta  |  New Delhi 

Investors are seeking clarity on several key areas in banking. The results of two bellwethers have led to mixed responses. Provisioning seems more or less in line with proforma estimates of Q3. Credit growth has improved.

Investors are adjusting for a poor Q1, 2021-22, given the second wave. The street was disappointed by HDFC Bank and enthusiastic about ICICI Bank. The ICICI stock has surged and it pulled up several other banks in its wake. HDFC Bank missed Street estimates mainly due to higher provisions. Provisions rose 24 per cent year-on-year (YoY) to Rs 4,693.7 crore, which ...

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First Published: Mon, April 26 2021. 20:11 IST
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