HDFC Bank shares fall over 1% after Q4. Jefferies, Bernstein, 3 other brokerage weigh in

HDFC Bank’s shares dipped despite a 9% net profit rise to Rs 19,221 crore for the March quarter. While interest income saw a slight decline, return on assets improved. Analysts largely maintain buy or outperform ratings, citing strong deposit growth, resilient margins, and attractive valuations, though some caution on near-term growth acceleration.