HDFC Bank slips 2%; stock weak for third straight day, nearing 52-week low

In Q2, HDFC Bank's NIMs were under pressure, primarily because of the excess liquidity on the books.

Shares of HDFC Bank continued to reel under pressure, down 2 per cent at Rs 1,460.55 on the BSE in Thursday’s intra-day trade. The stock of largest private sector bank was trading lower for the third straight day, and has slipped 4 per cent during this period. It was quoting close to its 52-week low of Rs 1,448.75 touched on October 28, 2022.

Earlier this year, HDFC Ltd merged into the bank, which according to analysts, had a noticeable impact on HDFC Bank’s asset quality. Gross non-performing assets (NPAs) as a percentage of gross advances increased to 1.34 per cent