HDFC Bank falls over 7%; Bernstein downgrades stock to underperform
Updated : March 20, 2020 11:34 AM IST
HDFC Bank shares have already declined more than 26 percent in this month so far.
Global research firm AllianceBernstein has downgraded HDFC Bank to ‘Underperform’ and cut its target prices to Rs 750 from Rs 1,400 earlier.
However, UBS does not expect a significant impact on asset quality of the HDFC Bank due to the outbreak of coronavirus.