HDFC Bank rose 2.16% to Rs 1214.65 after the bank reported strong growth in Q2 September 2019.
Meanwhile, the BSE Sensex was up 233.51 points or 0.62% at 37906.82.
The bank's advances rose 19% to approximately Rs 897000 crore as of 30 September 2019 as compared to Rs 750800 crore as of 30 September 2018 (Rs 829700 crore as of 30 June 2019).
Deposits rose 22% to approximately Rs 1021500 crore as of 30 September 2019 as compared to Rs 833400 crore as of 30 September 2018 (Rs 954600 crore as of 30 June 2019).
CASA ratio stood at around 39.2% as of 30 September 2019, as compared to 42% as of 30 September 2018 and 39.7% as of 30 June 2019.
During the quarter ended 30 September 2019, the bank purchased loans aggregating Rs 7160 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation.
Shares of HDFC Bank gained 5.8% in a month compared to a 2.58% rise in benchmark Sensex. The stock is trading above its 100 and 200 days simple moving averages placed at 1172.03 and 1129.57 respectively.
On the BSE, 2.39 lakh shares were traded in the counter so far compared with average daily volumes of 4.16 lakh shares in the past two weeks. The stock hit an intraday high of Rs 1219.45 and an intraday low of Rs 1190 so far during the day. The stock hit a 52-week high of Rs 1285 on 23 September 2019 and a 52-week low of Rs 942.2 on 31 October 2018.
The bank reported a 21% rise in net profit to Rs 5568.16 crore in Q1 June 2019 as compared to Q1 June 2018. Total income rose 22.7% to Rs 32,361.84 crore in Q1 June 2019 as against Q1 June 2018.
HDFC Bank is one of India's premier banks providing a wide range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side.
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