HDFC Bank Ltd.’s stocks dropped almost 4% on Monday, dragging the private bank Nifty index down as investors liquidated holdings on worries that the rising number of COVID-19 cases will harm the asset. the bank’s quality.
HDFC Bank said over the weekend that its board of directors has accepted a plan to fund 500 billion rupees in the next 12 months via a private placement, adding that the bank’s performance would continue to be impacted by the second wave of coronavirus illnesses.
Net non-performing assets were 0.40 % of total assets for the quarter, compared to 0.36 % a year ago. On Monday morning, HDFC Bank stocks dragged down the Nifty index of private banks by moreover 4%. However, please keep in mind that HDB may not be the ideal promotion to purchase. Therefore, peruse the other content on our website. Additionally, do not take any financial advice personally; you should do your own research before investing.
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Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.