US-based Bernstein slashes rating to underweight, almost halves target price; UBS maintains positive stance
On Wednesday, the private lender's stock saw its steepest single-day fall of 9.9 per cent in nearly 12 years; it is down 33 per cent since all-time high
Net interest income, however, is likely to grow between 11 and 16 % YoY to Rs 14,409.5 crore, up from Rs 12,576.8 crore reported in the same quarter last year, and Rs 13,515 crore in Q2FY20
Bank also launches its farmer outreach programme 'Har Gaon Hamara'
The rub-off effect of subsidiaries is quite prominent on the stock price movement; loan growth at 12 per cent in July-September quarter
The bank has an optimistic outlook on the credit demand from the corporate and SME sector
While the development is a step in the right direction as regards the real estate sector, non-bank fiannce companies (NBFCs) and the cement sector, too, will reap benefits, some experts say
For the recently concluded quarter, the slippages are expected to show mixed trend as analysts eye stable numbers from the agri-sector but warn of stress in the retail space
The stock fell 3% on Monday; it was the sharpest decline in reaction to the results
Once most popular among foreign portfolio investors, stock is trading at a discount to peers in private space