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HDFC Bank Gains 3%; BSE BANKEX Index Down 0.0%
Mon, 22 Jul 11:0

HDFC Bank Gains 3%; BSE BANKEX Index Down 0.0%Image source: Chunumunu/www.istockphoto.com

HDFC Bank share price has zoomed 3% and is presently trading at Rs 1,648.7.

Meanwhile, the BSE BANKEX index is at 60,154.8 .

Among the top gainers in the BSE BANKEX index today are AU SMALL FINANCE BANK (up 2.5%) and Bank of Baroda (up 1.7%).

Kotak Bank (down 3.0%) and ICICI Bank (down 0.9%) are among the top losers today.

Over the last one year, HDFC Bank has moved down from Rs 1,677.2 to Rs 1,648.7, registering a loss of Rs 28.6 (down 1.7%).

On the other hand, the BSE BANKEX index has moved up from 51,207.9 to 60,154.8, registering a gain of 17.5% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 49.4%), Federal Bank (up 43.8%) and Axis Bank (up 33.7%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,746.0 (up 0.2%).

The top gainers among the BSE Sensex today are NTPC (up 2.7%) and Power Grid Corp. (up 2.1%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,572.3 (up 0.2%). BPCL and NTPC are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,795.1 to 80,746.0, registering a gain of 13,950.9 points (up 20.9%).

HDFC Bank Financial Update...

HDFC Bank net profit grew 38.6% YoY to Rs 171,881 million for the quarter ended June 2024, compared to a profit of Rs 124,033 million a year ago. Net sales rose 59.4% to Rs 815,462 million during the period as against Rs 511,681 million in April-June 2023.

For the year ended March 2024, HDFC Bank reported 39.3% increase in net profit to Rs 640,620 million compared to net profit of Rs 459,971 million during FY23. Revenue of the company grew 66.1% to Rs 2,836,490 million during FY24.

The current Price to earnings ratio of HDFC Bank, based on rolling 12 month earnings, stands at 17.9.

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