Major private banks, including HDFC Bank, ICICI Bank and Kotak Mahindra Bank, have reported their Q2 FY27 earnings, delivering a mixed bag of results. Against this backdrop, analysts have identified banks that offer attractive valuations and those investors may want to avoid.
The Q2 earnings season for the private lenders accelerated on October 17 when HDFC Bank, ICICI Bank, Axis Bank and Yes Bank released their results for the July-September quarter of the ongoing financial year. India’s largest private lender HDFC Bank reported a 5% YoY rise in net profit to Rs 19,510 crore, delivering a largely in-line performance, although the market reaction was muted. The shares of the lender have dropped 6% since the earnings announcement.
