Synopsis:
HDFC Bank emerges as the top gainer in Sensex and Nifty following the release of its Q4 updates.
HDFC Bank stock gained 3.19% intraday to Rs 1529.85 on BSE. Market cap of the bank stood at Rs 11.60 lakh crore.
Shares of private sector lender HDFC Bank Ltd rose over 3% today after the bank announced its Q4 updates. HDFC Bank stock gained 3.19% intraday to Rs 1529.85 on BSE. Market cap of the bank stood at Rs 11.60 lakh crore. Later, the stock closed 3.06% higher at Rs 1527.90 on BSE. The stock was top gainer on Sensex and Nifty today.
On Nifty, the stock ended 3.15% higher at Rs 1529.
HDFC Bank stock is down 5% in a year and fallen 10% in 2024. Total 19.63 lakh shares of the firm changed hands amounting to a turnover of Rs 298.42 crore on BSE. HDFC Bank stock has a one-year beta of 0.7. This signals the stock has low volatility.
The large cap stock is trading higher than the 5 day, 10 day, 20 day but lower than the 30 day, 50 day, 100 day but lower than the 150 day and 200 day moving averages.
The banking stock stands neither in the oversold nor in the overbought territory as the relative strength index (RSI) of HDFC Bank stands at 61.2.
HDFC Bank said gross advances aggregated to Rs 25.08 lakh crore as of March 31, 2024, clocking a growth of around 55.4 per cent on a year-on-year (YoY) basis from Rs 16.14 lakh crore as of March 31, 2023. On a quarter-on-year basis (QoQ), it grew 1.6 per cent from Rs 24.69 lakh crore as of December 31, 2023.
The lender's domestic retail loans surged 108.9 per cent YoY and 3.7 per cent QoQ,; commercial & rural banking loans grew 24.6 per cent YoY and 4.2 per cent QoQ; corporate & other wholesale loans (excluding non-individual loans of the erstwhile HDFC) rose 4.1 per cent YoY but dropped 2.2 per cent QoQ, as per the bank's internal business classification.
