Nuvama has reaffirmed its ‘Buy’ rating on HDFC Bank, assigning a target price of ₹1,950, representing a potential upside of 16.6% from the current market price of ₹1,671.90.
The brokerage highlighted better-than-expected performance in core slippage metrics, a lower loan-to-deposit ratio (LDR), and a substantial gain in deposit market share as key drivers for its positive outlook. Slippage (excluding the agriculture segment) remained flat quarter-on-quarter, while total slippage, including agriculture, rose by 13% QoQ.
HDFC Bank’s total lagged slippage ratio, at 1.4%, continues to be the lowest among its private-sector peers, further underscoring its strong risk management practices.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
