HDFC Bank has joined the elite club of Rs 8-trillion market capitalization on the BSE, as its share price hit a new high of Rs 1,464 in Wednesday’s early morning deals.
HDFC Bank, which is at number three position in the overall market-cap ranking of listed companies, has become the first lender to achieve the milestone.
At 11:00 AM, the script traded at Rs 1,441.00 apiece, up 0.38 per cent, while the benchmark Sensex dropped 0.51 per cent to 44,281.78 points. So far this year, the stock has surged nearly 14 per cent.
In the past month, HDFC Bank has outperformed the market by gaining 17 per cent, against a 10 per cent rise in the S&P BSE Sensex.
In three months, the private sector lender’s stock has rallied 30 percent, as compared to a 15 per cent gain in the benchmark index.
In the Q2FY21, HDFC Bank had reported strong results with net profit growing 18.4 percent year-on-year (YoY) at Rs 7,513 crore. The non-performing assets ratio stood at 1.08 per cent against 1.38 per cent on a Pro-forma basis and 1.36 per cent in the previous quarter.
Net Interest Income (NII) of the bank grew 16.7 percent YoY at Rs 15,776 crore, driven by asset growth of 21.5 per cent and a core interest margin for the quarter of 4.1 per cent.