0706 GMT - HDFC Bank's continued increase in deposits amid a tight liquidity environment looks encouraging, Nomura analysts say, noting the Indian bank's 5.9% on-quarter growth in deposits for 4Q FY 2025. Management also highlighted that loan growth is expected to track system credit growth in FY 2026, the analysts say in a research report. HDFC Bank appears well-positioned relative to peers on asset quality, while the improving liquidity environment should further aid its deposit growth, the analysts add. Nomura raises the stock's target price to INR2,140.00 from INR1,920.00 to reflect a target multiple of estimated 2.3X March 2027 book value per share versus 2.1X December 2026 BVPS previously, with an unchanged buy rating. Shares are 1.3% higher at INR1,952.40. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 22, 2025 03:06 ET (07:06 GMT)
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