Hdfc Bank Stock Inches Towards All Time High

Top Stories

Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read. August 2, 2024 at 12:45 PM

Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read. August 2, 2024 at 12:41 PM

Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read. August 2, 2024 at 12:36 PM

Stock chart

HDFC Bank stock inches towards all-time high

ri-calendar-2-lineJan 24, 2023

By: BlinkX Research Team

FbkFbkTwitterTelegram

HDFC Bank shares hit nine-month high at Rs 1,702 on the BSE in Tuesday’s intra-day trade. 


The stock trading at its highest level since April 2022, and inches towards its all-time high of Rs 1,724 touched on October 18, 2021. The shares of the largest private sector lender quoted higher for the sixth straight trading session, rose 7% during the period.

 

"Rahul Sharma, Director, Head- Technical & Derivative Research, JM Financial Services Ltd, said, "We are seeing an absolute strength in HDFC Bank. The Relative strength is emerging as it comes out of a period of underperformance wrt Banknifty.”

 

Further, HDFC Bank has reported a net profit of Rs 12,259.50 crore in Q3FY23 against Q3FY22 net profit of Rs 10,342.20 crore, logging around 18.50% YoY rise in recently ended December 2022 quarter.

 

The private lender reported robust growth in net interest income (NII). In recently ended December 2022 quarter, HDFC Bank has reported NII of Rs 22,987.9 crore, around 24.60% higher from its NII of Rs 18,443.50 crore in Q3FY22. HDFC Bank has reported provisions at Rs 2,806.4 in Q3FY23 as against Rs 3,240.1 crore in Q2FY23. In Q3FY22, HDFC Bank had reported provisions at Rs 2,994 crore. So, the private bank has cut down its provisions by 6.26 per cent on YoY basis and around 13.40 per cent on QoQ basis.

 

Meanwhile, HDFC Bank and Housing Development Finance Corporation (HDFC) Limited on April 2022 has announced a transformational merger that is subject to various regulatory approvals. Shareholders of HDFC as on the record date will receive 42 shares of face value of Re 1 each of HDFC Bank, for 25 shares of Rs 2 held in HDFC.

Related News

News Thumbnail
Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read. August 2, 2024 at 12:45 PM

News Thumbnail
Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read. August 2, 2024 at 12:41 PM

News Thumbnail
Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read. August 2, 2024 at 12:36 PM

News Thumbnail
Company

NBCC Arm Gets Two Construction Projects Worth Rs 443.61 Cr

4 mins read. August 2, 2024 at 12:33 PM

Related Blogs

Stock chartDemat Account

Biggest Winners and Losers in MSCI: Key Movers in Global Indices 2025

0 people read

3 mins read . Aug 20, 2025

Stock chartMutual Fund

What MF Big Boys Bought and Sold – Top Mutual Fund Stock Activity in 2025

0 people read

8 mins read . Aug 18, 2025

Download app

Access BlinkX
everywhere
across device

Join the Future of Trading

with BlinkX

#ItsATraderThing

Open Trading Account
Verify your phone
+91
*By signing up you agree to our terms & conditions