HDFC Bank nears record high on Q3 earnings; analysts bullish on the stock

The stock hit its highest level since August 1, 2018, of Rs 2,165, was trading close to its record high level of Rs 2,219 touched on July 18, 2018, on BSE in the intra-day trade.

Shares of HDFC Bank hit an over five-month high of Rs 2,165, up 1.6 per cent on BSE in the intra-day trade on Monday, after the company reported a 20.3 per cent year-on-year (YoY) growth in net profit at Rs 5,586 crore in December quarter (Q3FY19). The private sector lender had posted a profit of Rs 4,643 crore in the year-ago quarter.

Net interest income (interest earned less interest expended) during the quarter under review grew by 21.9 per cent to Rs 12,577 crore from Rs 10,314 crore in previous year quarter, driven by asset growth of 23.7 per