HDFC Bank Shares Plunge to 3-Month Low Amid Deposit Growth Concerns

• HDFC Bank shares plunged to a three-month low of ₹956 on January 6, following December quarter business updates.
• Brokerage firms, including Nomura, raised concerns over the bank's sluggish 12.2% deposit growth, potentially limiting future advances.
• Average advances grew 9% to ₹28.64 lakh crore, while CASA deposits increased 9.9% in the December quarter.
• The bank's Credit-Deposit (CD) ratio reached nearly 100% in the December quarter, adding to growth concerns.
• Motilal Oswal maintained a 'Buy' recommendation, acknowledging good growth in advances despite broader concerns.

Why It Matters: HDFC Bank shares fell to a 3-month low due to concerns over sluggish deposit growth limiting future advances.