Strong purchasing momentum caused HDFC Bank’s share price to rise more than 1% on Tuesday, setting a new record high. The price of HDFC Bank’s shares on the NSE increased 1.8% from the previous close to reach its all-time high of ₹1,837.40 per share.
With today’s share price advances, HDFC Bank’s market capitalization regained the ₹14 lakh crore level.
On Tuesday, December 3, a block sale of 21.7 lakh HDFC Bank shares occurred, according to Bloomberg statistics. There are no buyers or sellers listed in the HDFC Bank share block deal details. However, the overall value of the HDFC Bank block deal would be around ₹392 crore based on the previous closing price of ₹1,804.70 per share.
Due to significant profit-taking in the wider markets, HDFC Bank’s market capitalization fell below the ₹14 lakh crore threshold after reaching ₹14.01 lakh crore on November 28.
HDFC Bank Stock Price Trend
The price of HDFC Bank’s stock has increased by more than 5% in a single month and more than 12% in three. The biggest private sector bank in India has seen its stock rise by more than 7% year-to-date (YTD) and by about 18% in a single year.
MSCI Rejig
The MSCI rebalancing, which went into effect at the end of November, was another factor contributing to the recent increases in HDFC Bank shares. In its most recent rebalancing, HDFC Bank’s weight in the MSCI Emerging Markets (EM) Index grew, drawing in an estimated $1.9 billion in passive inflows. This change is the second stage of a projected weighting increase that was first described in the August 2024 MSCI review.
HDFC Bank Financials
In the quarter that ended in September 2024, HDFC Bank’s standalone net profit increased by 5.3% to ₹16,821 crore from ₹15,976 crore during the same time the previous year. In Q2FY25, the net interest income (NII) of the private lender increased by 10% year over year (YoY) to ₹30,110 crore from ₹27,390 crore.
In contrast to the previous June quarter, when it was 3.47% and 3.66%, respectively, the core net interest margin (NIM) of India’s largest private lender by market value was 3.46% on total assets and 3.65% on interest-earning ones in the September quarter. The entire balance sheet of HDFC Bank grew from ₹34,16,300 crore to ₹36,88,100 crore during the previous year.
HDFC Bank shares were up 1.68% at ₹1,834.90 on the BSE at 11:20 AM.
