It is very irritating that the bank uses two different presentation formats when reporting the same results.
Numbers are presented with easy to read formatting such as 8,350 cr in the truncated reports such as https://www.hdfcbank.com/content/api/contentstream-id/723fb80a-2dde-42a3-9793-7ae1be57c87f/a88caa5c-af53-404e-ad42-79c04425319e?
Where as in the report submitted to the exchanges numbers are presented without any formatting or separator, reported in lakhs instead of crores making them difficult read
Also font size and layout makes it difficult to read compared press release:
It seems the bank is trying hard to make it difficult for shareholders to read reports submitted to exchanges and wants to steer them to read abbreviated and derived reports.
FII numbers paint a picture.
In last six months FII selling has been an average of 45k Cr each month.
But in July it is a net sell of 6500 Cr only.
Hdfc Bank gets most affected by FII stance.
To continue with the above thesis, mostly cuz fundamentally the business is on track…
The chart breached 3 month high, broke an important resistance of 1400, coupled with FII change of stance, makes the chart bullish.
Can this take the share price to all time high? Now it’s possible. This breakout, after a base formation seems fairly decisive. Icici, SbI are within 5% range of their all time highs.
FED hv hiked rates as expected, and have hinted no fear of recession. So, no bad news is expected.
Banks have had a good last couple of quarters, hence could be back in fovour.
I would not rely on FED’s statements, remember first there was no inflation, then the inflation became “transitory”…and now (oops) the inflation is at multi decade high (in US) and hence FED is on a war footing to increase the interest rates…I rather go by the banks track record, and management’s expectations that they can continue to grow at the same/higher rates. What happens in US economy will for sure have some impact on the bank too…but in the long run that wont and should not matter.
Concall with HSBC and other institutions.