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BUZZ-India's HDFC Bank hits record high on strong March-quarter results
April 24, 2017 / 4:24 AM / 8 months ago

BUZZ-India's HDFC Bank hits record high on strong March-quarter results

** HDFC Bank Ltd’s shares rise as much as 2.12 pct to a record high of 1,528.35 rupees

** Extend gains into a fifth straight session

** India’s second-biggest lender by assets on Friday reported higher-than-expected profit of 39.9 bln rupees ($618.48 mln) for March quarter

** Q4 bad loan ratio remains sequentially stable at 1.05 pct

** Key positive was strong acceleration in core pre-provision operating profit growth, helped by strong loan growth, margins, and fees - Morgan Stanley writes in a note

** Stock had risen 24 pct this year as of Friday’s close

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