HDFC Bank set for December quarter results, stock trades steady

HDFC Bank maintained a steady trade at Rs 1,671 on the morning of January 16, anticipating the release of its December quarter results. As India’s largest private sector lender, the bank is expected to unveil a mixed performance, driven by robust credit growth contributing to net interest income (NII). However, the anticipation of higher cost of funds may exert pressure on profitability and margins.

Over the past three months, HDFC Bank’s stock witnessed a notable surge of over 9%, outperforming a 0.06% dip in Bank Nifty. The stock had achieved a 52-week high of Rs 1,757 on July 3, 2023.