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Fly News Breaks for September 9, 2019
HDB
Sep 9, 2019 | 09:36 EDT
Earlier, Bernstein analyst Gautam Chhugani downgraded HDFC Bank to Market Perform from Outperform, citing the view that dependence on "the unsecured book growth engine" is challenging in an environment of weak consumer savings and macro risks. Chhugani thinks HDFC Bank shares are likely to settle at a more conservative growth and profitability profile and set a INR2070 price target on the stock.
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