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HDFC Bank Plunges 3%; BSE BANKEX Index Down 1.5%
Tue, 13 Aug 14:55

HDFC Bank Plunges 3%; BSE BANKEX Index Down 1.5%Image source: CreativaImages/www.istockphoto.com

HDFC Bank share price has plunged 3% and is presently trading at Rs 1,605.8.

Meanwhile, the BSE BANKEX index is at 56,794.9 (down 1.5%).

Among the top losers in the BSE BANKEX index today are SBI (down 1.4%) and Kotak Bank (down 1.4%).

Federal Bank (up 0.3%) and AU SMALL FINANCE BANK (up 0.1%) are among the top gainers today.

Over the last one year, HDFC Bank has moved down from Rs 1,650.2 to Rs 1,605.8, registering a loss of Rs 44.4 (down 2.7%).

On the other hand, the BSE BANKEX index has moved up from 50,380.4 to 56,794.9, registering a gain of 12.7% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 49.9%), SBI (up 39.7%) and Bank of Baroda (up 24.4%).

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What About the Benchmark Indices?

The BSE Sensex is at 78,943.5 (down 0.9%).

The top losers among the BSE Sensex today are Tata Motors (down 2.2%) and Bajaj Finance (down 2.0%). The most traded stocks in the BSE Sensex are Reliance Ind. and Tata Steel.

In the meantime, NSE Nifty is at 24,131.7 (down 0.9%). BPCL and Shriram Transport are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,995.8 to 78,943.5, registering a gain of 12,947.7 points (up 19.6%).

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 17.4.


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