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HDFC Bank Result highlights along with technical view on stock.


HDFC Bank Result Highlights


Net profit rose 18% year-on-year to Rs 7,513 crore in the quarter ended September.

Net interest income (NII) rose 17% year-on-year to Rs 15,776 crore.

Net interest margin held steady at 4.1% for the quarter.

Other income rose 9% year-on-year to Rs 6,092.5 crore.

Capital Adequacy Ratio stood at 19.1% at the end of the Q2, as compared with 18.9% as on June 30.

Gross non-performing asset ratio stood at 1.08% at the end of the second quarter, as compared to 1.36% as on June 30.

Net NPA ratio for the bank fell 16 basis points to 0.17%.

Total deposits rose 20.3% to Rs 12.29 lakh crore.

Total advances grew 15.8% year-on-year to Rs 10.38 lakh crore as of Sept. 30


Impact on Mindtree

Reported solid numbers, but the further expectation of a sharp upside movement is limited.


Technicals View on Mindtree

Last week, we saw profit booking in HDFC Bank after a sharp upside rally, but still, it sustaining above the major support level of 1157 with a positive bias. Till the time it sustains above the support level of 1157, we can expect further upside movement in it and it may again test the 1300 mark. Any consolidation below the 1157 mark on a closing basis may generate fresh selling in it.




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