Branch² Intelligence
HDFC Bank shares get a downgrade from Investec after Q1 results, no more a 'consensus buy'
Key takeaway
Investec downgrades HDFC Bank to 'hold' after Q1 miss; core income and retail loan growth weak.
- Step 1Investec downgrades HDFC Bank after Q1 miss, citing weak core income and retail loan growth.
- Step 2HDFC Bank's stock declines, raising its cost of equity and tightening lending capacity for SMEs.
- Step 3Competitors (ICICI, Kotak) gain market share in retail/SME lending, while HDFC Bank's NIMs compress further.
Source: CNBC TV18 (Markets)
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