HDFC Bank (HDB) and Axis Bank, two of India’s largest private-sector banks, both posted steep losses on Monday amid concerns about contracting NIMs (net interest margins), a key profitability metric in the banking industry.
In the case of HDFC Bank, whose ADRs (American Depositary Receipts) trade on the NYSE, it was down over 10% on the day, putting it in fourth spot of Barchart’s list of bearish price surprises.