HDFC Bank stock gains for 6 sessions straight; here's why
HDFC Bank shares have gained 7.4% in the last six trading days, hitting a 9-month high of ₹1,702 intraday today.
HDFC Bank shares have gained 7.4% in the last six trading days, hitting a 9-month high of ₹1,702 intraday today.
The country’s largest private sector lender has reported double-digit growth in its net profit, driven by strong improvement in interest income as well as lower provisions.
HDFC Bank shares have fallen 14% over the last 12 months and underperformed the Bank Nifty by 15% during the period.
HDFC Banks’ Q1 profit rose 19% YoY to ₹9,196 crore, compared to ₹7,730 crore in the same period last year, driven by higher income and decline in provisions.
HDFC Bank’s net interest income rose 13% to ₹18,443 crore, while non-interest income grew 10% to ₹8,184 crore.