Morgan Stanley Downgrades HDFC Bank Limited (ADR) to Equal-Weight

Brokerage firm Morgan Stanley Downgrades its rating on HDFC Bank Limited (ADR)(HDB). The shares have been rated Equal-Weight. Previously, the analysts had a Overweight rating on the shares. The rating by the stock financial advisor at Morgan Stanley was issued on Mar 21, 2017 in a research report to their Investors and Clients.

HDFC Bank Limited (ADR) (HDB) shares turned negative on Fridays trading session with the shares closing down -0.15 points or -0.21% at a volume of 7,00,335. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $72.99. The peak price level was also seen at $72.99 while the days lowest was $72.05. Finally the shares closed at $72.85. The 52-week high of the shares is $74.99 while the 52-week low is $58. According to the latest information available, the market cap of the company is $61,816 M.

HDFC Bank Limited (HDFC Bank) is a banking company. The Bank is engaged in providing a range of banking and financial services including commercial banking and treasury operations. It operates in four segments: Treasury Retail Banking Wholesale banking and other banking business. The treasury segment primarily consists of net interest earnings from the Bank’s investment portfolio money market borrowing and lending gains or losses on investment operations. The retail banking segment serves retail customers through a branch network and other delivery channels. The wholesale banking segment provides loans non-fund facilities and transaction services to large corporates emerging corporates public sector units Government bodies financial institutions and medium scale enterprises. Other banking business segment includes income from para banking activities such as credit cards debit cards third-party product distribution primary dealership business and the associated costs.

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