Weighed by earnings hit, HDFC Bank may not perform in near-term: Analysts

Shares of HDFC Bank tumbled 3.7 per cent on the National Stock Exchange (NSE) on Wednesday after the pro-forma financials of the merged entity highlighted higher than expected hit on net worth

HDFC Bank Analysts' meet: The stock of HDFC Bank, which has shed 4 per cent so far this calendar year, may continue to underperform the markets in the near-term, brokerages cautioned on Wednesday.

By comparison, the benchmark Nifty50 has soared 10 per cent year-to-date (YTD) in CY2023, while the Nifty Bank has advanced 5.7 per cent.

The warning comes after the management's disclosed pro-forma financials of the merged entity highlighted higher than expected hit on net worth, return ratios, and margins.