06-Jul-2026 13:22:44
HDFC, Axis Bank Rally on Strong Q1 Updates; kotak Drops 3.5%
Banking stocks witnessed divergent moves after their Q1 business updates. HDFC Bank and Axis Bank gained up to 2.5% after reporting healthy growth in advances and deposits. HDFC Bank's gross advances rose 15.4% YoY to ₹30.61 lakh crore, while deposits increased 14.7%. In contrast, Kotak Mahindra Bank fell 3.5% despite 15% loan growth to ₹5.12 lakh crore, as weaker-than-expected deposit growth and softer operating trends disappointed investors.