Abhishek Securities

  HDFC Bank’s stellar performance in the July-September quarter notwithstanding, the impact of uncertainty for financial services reflected in its non-banking financial unit  HDB Financial Services  which serves clientele with a lesser credit profile. The unit saw a quarter of sub-par  asset quality  and credit growth as its  loan growth  decelerated,  net interest income  declined, profit slumped drastically and bad loans increased. “HDB’s portfolio is vulnerable due to focus on self-employed segments and micro enterprises, which has been impacted more than salaried segments,” said Gautam Chhugani, director, India financials at Bernstein, a research house. “The trend of consolidation and higher provisions could continue longer than at the parent bank.” Pressure on the non-bank lender may also reflect in the share price of HDFC Bank, said another  analyst . “While HDFC Bank has performed ahead of expectations, HDB Financial continues to ...

Aditya Puri, managing director and chief executive officer of the country's largest private sector lender  HDFC Bank   NSE 0.66 %  has sold 95% of his stake valued Rs 843 crore in the bank this week. According to insider trading data published by the stock exchanges on Saturday,  Aditya Puri  has sold 74.2 lakh shares of the bank between July 21 and Jul 24. Before this transaction, Puri held 77.96 lakh shares or 0.14% of banks equity capital.   Puri received 6.82 lakh ESOPs in FY2020. Shares of HDFC Bank rallied 46% since its yearly low of Rs 765 touched on March 24.   Puri who took home Rs 18.92 crore salary including perquisites but excluding stock options in the financial year 2019-20 sold shares worth Rs 200 crore in HDB Financial Services, the unlisted NBFC arm of the private lender in December last year. These shares were held through a family trust Vistra ITCL (India). In 2013, he transferred his shares to his family as part of the succe...