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04-10-2023 11:10 AM | Source: Accord Fintech
HDFC Bank gains on reporting 58% rise in gross advances during second quarter of FY24

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HDFC Bank is currently trading at Rs. 1517.95, up by 10.00 points or 0.66% from its previous closing of Rs. 1507.95 on the BSE.

The scrip opened at Rs. 1500.00 and has touched a high and low of Rs. 1517.95 and Rs. 1488.65 respectively. So far 130604 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1757.80 on 03-Jul-2023 and a 52 week low of Rs. 1384.00 on 13-Oct-2022.

Last one week high and low of the scrip stood at Rs. 1537.80 and Rs. 1488.65 respectively. The current market cap of the company is Rs. 1149403.31 crore.

The promoters holding in the company stood at 25.52%, while Institutions and Non-Institutions held 60.29% and 14.19% respectively.

HDFC Bank has reported 57.7% rise in its gross advances to around Rs 23,545 billion as of September 30, 2023 (Q2FY24) as compared to Rs 14,933 billion as of September 30, 2022 and a growth of around 44.4% over Rs 16,300 billion as of June 30, 2023. Grossing up for transfers through inter-bank participation certificates and bills rediscounted, the Bank’s advances grew by around 60.0% over September 30, 2022 and around 43.0% over June 30, 2023.

The Bank’s deposits aggregated to around Rs 21,730 billion as of September 30, 2023, a growth of around 29.9% over Rs 16,734 billion as of September 30, 2022 and a growth of around 13.6% over Rs 19,131 billion as of June 30, 2023.

The Bank’s CASA deposits aggregated to around Rs 8,175 billion as of September 30, 2023, a growth of around 7.6% over Rs 7,597 billion as of September 30, 2022 and around 0.6% over Rs 8,130 billion as of June 30, 2023. The Bank’s CASA ratio stood at around 37.6% as of September 30, 2023, as compared to 45.4% as of September 30, 2022, and 42.5% as of June 30, 2023. 

HDFC Bank is one of India’s premier banks providing a widerange of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.