Nirmal Bang: HDFC Firing On All Cylinders; Valuation Still Favourable
Information leaflets are displayed at a Housing Development Finance Corp. (HDFC) bank branch in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Nirmal Bang: HDFC Firing On All Cylinders; Valuation Still Favourable

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Nirmal Bang Report

Housing Development Finance Corp. reported strong set of numbers for Q2 FY21 with net interest income growing by 21.7% YoY and 12.9% QoQ, led by margin expansion.

Reported net interest margin came in at 3.3%, expanding by 20 basis points QoQ.

The decline in cost of funds was more than enough to offset the negative impact of drop in topline yields.

Calculated cost of funds dropped by 41 basis points QoQ to 6.94%.

Click on the attachment to read the full report:

Nirmal Bang HDFC Ltd-Q2FY21 Result Update-3 November 2020.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.