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HDFC Bank Gains 3%; BSE BANKEX Index Up 1.9%
Wed, 3 Jul 9:59

HDFC Bank Gains 3%; BSE BANKEX Index Up 1.9%Image source: Chunumunu/www.istockphoto.com

HDFC Bank share price has zoomed 3% and is presently trading at Rs 1,780.6.

Meanwhile, the BSE BANKEX index is at 60,425.3 (up 1.9%).

Among the top gainers in the BSE BANKEX index today are Federal Bank (up 3.7%) and Axis Bank (up 2.2%).

IDFC FIRST BANK (down 0.3%) is among the top losers today.

Over the last one year, HDFC Bank has moved up from Rs 1,719.6 to Rs 1,780.6, registering a gain of Rs 61.0 (up 3.5%).

On the other hand, the BSE BANKEX index has moved up from 50,894.9 to 60,425.3, registering a gain of 18.7% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 42.4%), SBI (up 41.9%) and Bank of Baroda (up 34.6%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 80,070.5 (up 0.8%).

The top gainers among the BSE Sensex today are Axis Bank (up 2.2%) and ICICI Bank (up 2.0%). The most traded stocks in the BSE Sensex are HDFC Bank and SBI.

In the meantime, NSE Nifty is at 24,299.7 (up 0.7%). 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 65,205.1 to 80,070.5, registering a gain of 14,865.4 points (up 22.8%).

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 20.7.

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