Nomura sees India's HDFC Bank as key beneficiary of cenbank scheme, shares rise
Yesterday 05:11
BUZZ-Nomura sees India's HDFC Bank as key beneficiary of cenbank scheme, shares rise ** Shares of India's HDFC Bank HDBK.NS rise 2.05% to 788.30 rupees
** Nomura ("buy" TP:950 rupees) says the lender could be a key beneficiary of the RBI's FCNR(B) deposit scheme, which allows banks to raise foreign-currency deposits from non-resident Indians
** Brokerage estimates co could garner about 15% of overall foreign currency non-resident (FCNR) account flows, equivalent to roughly 3% of its current deposit base, helping FY27 deposit growth improve to 17.7% from 15%
** Says the scheme could help ease concerns around HDFC Bank's credit-deposit ratio, liquidity coverage and funding costs
** YTD stock down 20.52%
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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