Economy · India
IDFC First Bank, HDFC Bank Shares See Gains
Shares of IDFC First Bank rose by 3%, approaching their 52-week high, following an upgrade to 'Buy' by Motilal Oswal. Separately, HDFC Bank shares climbed nearly 9% from their 52-week low. Macquarie maintained an 'Outperform' rating on HDFC Bank, citing retail growth, particularly in unsecured loans, as a priority for the new CEO. Macquarie also highlighted the need for HDFC Bank to focus on CASA deposits, enhance its technology architecture, improve service culture, and increase cross-selling and synergies across the group.
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- Centre (3): Business Standard, Business Today, The Financial Express