Shares of private sector lender HDFC Bank Ltd rose over 3% today after the bank announced its Q4 updates. HDFC Bank stock gained 3.19% intraday to Rs 1529.85 on BSE. Market cap of the bank stood at Rs 11.60 lakh crore. Later, the stock closed 3.06% higher at Rs 1527.90 on BSE. The stock was top gainer on Sensex and Nifty today.
In an interaction with Rahul Jain, managing director of global investment research at Goldman Sachs India Securities Pvt Ltd, Jagdishan gave an overview of the loans and deposits in HDFC Bank’s balance sheet post the merger.
HDFC Bank s stock surged by 2.63% to close at ₹1,454 apiece. The rally was attributed to the bank s focus on profitability and earnings per share growth over loan growth. This strong rally has also propelled the benchmark Nifty 50 to reach another record milestone of 22,215 points.
HDFC Bank share price has been on a downward trend, falling over 15 percent in the last 1 year and almost 17 percent in 2024 YTD. Despite the recent correction, global brokerage house Morgan Stanley sees over 49 percent upside in the largest private sector lender.