HDFC BANK Surges by 13%; BSE BANKEX Index Up 8.8%

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HDFC BANK Surges by 13%; BSE BANKEX Index Up 8.8%
Wed, 25 Mar 03:34 PM

HDFC BANK share price has zoomed 13% and is presently trading at Rs 868.

Meanwhile, the BSE BANKEX Index is at 21,630 (up 8.8%).

Among the top Gainers in the BSE BANKEX Index today are HDFC BANK (up 12.9%) and KOTAK MAHINDRA BANK (up 12.6%).

INDUSIND BANK (down 3.7%) and YES BANK (down 15.7%) are among the top losers today.

Over the last one year, HDFC BANK has moved down from Rs 1,141 to Rs 868, registering a loss of Rs 273 (down 24.3%).

On the other hand, the BSE BANKEX has moved down from 32,724 to 21,630, loss of 11,094 points (down 34.7%) during the last 12 months.

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What About the Benchmark Indices?

The BSE Sensex is at 28,790 (up 6.8%).

The top gainers among the BSE Sensex stocks today are RELIANCE IND. (up 13.4%), HDFC BANK (up 12.9%) and KOTAK MAHINDRA BANK (up 12.6%). Other gainers include MARUTI SUZUKI (up 10.5%) and HDFC (up 10.0%). The most traded stocks in the BSE Sensex are RELIANCE IND. and SBI.

In the meantime, NSE Nifty is at 8,377 (up 6.3%). The top gainers in the NSE Nifty include RELIANCE IND. (up 13.7%), HDFC BANK (up 12.1%) and KOTAK MAHINDRA BANK (up 11.9%). Other gainers include UPL (up 11.4%) and MARUTI SUZUKI (up 10.6%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 37,809 to 28,790, registering a loss of 9,019 points (down 24.67%).

HDFC BANK Financial Update...

HDFC BANK net profit stood at Rs 74 billion for the quarter ended December 2019, compared to a profit of Rs 56 billion a year ago. Operating income rose 13.4% to Rs 293.7 billion during the period as against Rs 258.9 billion in October-December 2018.

For the year ended March 2019, HDFC BANK reported 20.4% increase in net profit to Rs 222.2 billion compared to net profit of Rs 184.6 billion during FY18.

Revenue of the company grew 23.3% to Rs 1,052 billion during FY19.

The current Price to earnings ratio of HDFC BANK, based on rolling 12 month earnings, stands at 9.3x.

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