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HDFC Bank Gains 2%; BSE BANKEX Index Up 1.5%
Tue, 25 Jun 12:52

HDFC Bank Gains 2%; BSE BANKEX Index Up 1.5%Image source: Kameleon007 /www.istockphoto.com

HDFC Bank share price has zoomed 2% and is presently trading at Rs 1,707.2.

Meanwhile, the BSE BANKEX index is at 59,564.9 (up 1.5%).

Among the top gainers in the BSE BANKEX index today are Axis Bank (up 2.5%) and ICICI Bank (up 1.7%).

AU SMALL FINANCE BANK (down 0.7%) and IDFC FIRST BANK (down 0.4%) are among the top losers today.

Over the last one year, HDFC Bank has moved up from Rs 1,635.8 to Rs 1,707.2, registering a gain of Rs 71.4 (up 4.4%).

On the other hand, the BSE BANKEX index has moved up from 49,545.7 to 59,564.9, registering a gain of 20.2% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 48.6%), Federal Bank (up 42.0%) and Bank of Baroda (up 42.0%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 77,788.4 (up 0.6%).

The top gainers among the BSE Sensex today are Axis Bank (up 2.5%) and ICICI Bank (up 1.7%). The most traded stocks in the BSE Sensex are ICICI Bank and HDFC Bank.

In the meantime, NSE Nifty is at 23,665.1 (up 0.5%). Axis Bank and ICICI Bank are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 63,523.2 to 77,788.4, registering a gain of 14,265.2 points (up 22.5%).

HDFC Bank Financial Update...

HDFC Bank net profit grew 42.6% YoY to Rs 180,129 million for the quarter ended March 2024, compared to a profit of Rs 126,340 million a year ago. Net sales rose 67.1% to Rs 794,336 million during the period as against Rs 475,483 million in January-March 2023.

For the year ended March 2023, HDFC Bank reported 20.9% increase in net profit to Rs 459,971 million compared to net profit of Rs 380,528 million during FY22. Revenue of the company grew 25.6% to Rs 1,707,541 million during FY23.

The current Price to earnings ratio of HDFC Bank, based on rolling 12 month earnings, stands at 19.8.

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