HDFC Bank up after Q3 net beats forecasts
After market hours on Thursday, HDFC Bank beat expectations with a 33% rise in third-quarter profit, while warning that red-hot demand for loans might moderate with rising interest rates.
Shares in HDFC Bank rose as much as 1.2% on Friday morning, a day after the country's third-largest lender posted better-than-expected quarterly earnings. After market hours on Thursday, HDFC Bank beat expectations with a 33% rise in third-quarter profit, while warning that red-hot demand for loans might moderate with rising interest rates. At 9:26 am (0356 GMT), HDFC Bank shares were up 0.3%, while the main stock index was down 0.6%.