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The Economic Times
The Economic Times
Debaroti Adhikary

HDFC Bank shares crash 5%, wipe off Rs 70,000 cr from investor wealth. Why Jefferies, Nomura, others see up to 28% upside?

HDFC Bank Jefferies Nomura Anand Rathi Motilal Oswal Axis Bank FCNR ICICI ICICI Bank JM Financial

Shares of HDFC Bank fell more than 5% on Monday after the private lender's Q1 earnings failed to impress investors, wiping out nearly Rs 70,000 crore in market value, even as brokerages remained bullish on the stock.

HDFC Bank fell to an intraday low of Rs 774.55 apiece on the NSE, with its market capitalisation falling to less than Rs 11.93 lakh crore. This came after India’s private lender on Saturday reported a 5% year-on-year (YoY) rise in net profit to Rs 19,060 crore for the April-June quarter of the ongoing financial year 2027.

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