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HDFC Bank Gains 4%; BSE BANKEX Index Down 0.3%
Mon, 21 Oct 11:21

HDFC Bank Gains 4%; BSE BANKEX Index Down 0.3%Image source: Chunumunu/www.istockphoto.com

HDFC Bank share price has zoomed 4% and is presently trading at Rs 1,745.5.

Meanwhile, the BSE BANKEX index is at 59,151.7 (down 0.3%).

Among the top gainers in the BSE BANKEX index today are Federal Bank (up 0.8%) and IDFC FIRST BANK (up 0.4%).

Kotak Bank (down 6.6%) and Indusind Bank (down 2.6%) are among the top losers today.

Over the last one year, HDFC Bank has moved up from Rs 1,541.4 to Rs 1,745.5, registering a gain of Rs 204.2 (up 13.2%).

On the other hand, the BSE BANKEX index has moved up from 49,954.6 to 59,151.7, registering a gain of 18.4% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 41.2%), Federal Bank (up 32.5%) and ICICI Bank (up 31.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,204.9 .

The top losers among the BSE Sensex today are Kotak Bank (down 6.6%) and Indusind Bank (down 2.6%). The most traded stocks in the BSE Sensex are Tata Steel and HDFC Bank.

In the meantime, NSE Nifty is at 24,799.2 (down 0.2%). Tata Consumer Products and Kotak Bank are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,428.1 to 81,204.9, registering a gain of 14,776.8 points (up 22.2%).

HDFC Bank Financial Update...

HDFC Bank net profit grew 7.6% YoY to Rs 186,274 million for the quarter ended September 2024, compared to a profit of Rs 173,124 million a year ago. Net sales rose 10.6% to Rs 830,017 million during the period as against Rs 750,391 million in July-September 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 18.6.

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