Comments
Shares of HDFC Bank fell 3 per cent on Wednesday, dragging the benchmark Nifty 50 index after the country's top private lender said its newly completed merger with HDFC Ltd would hit some key financial metrics.
The bank has said it expects some "pressure" on its net interest margins (NIM) and forecast a rise in non-performing assets (NPA), according to analyst reports following a meet with HDFC Bank's management held early in the week.
Also read: Rupee rises 6 paise against US dollar in early trade
HDFC Bank is expected to report its first consolidated earnings next month, though a date has not been announced yet. The two companies merged effective July 1, creating a $40 billion behemoth.
About 11.6 million shares changed hands in early trade against a 30-day average of 21.1 million.
HDFC Bank shares are down 3 per cent so far this year, underperforming 6 per cent gains in the bank index and 11 per cent gains in the Nifty index.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.