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HDFC Bank surges on reporting 55% rise in gross advances during fourth quarter of FY24

HDFC Bank is currently trading at Rs. 1513.70, up by 31.15 points or 2.10% from its previous closing of Rs. 1482.55 on the BSE.

The scrip opened at Rs. 1505.00 and has touched a high and low of Rs. 1526.05 and Rs. 1505.00 respectively. So far 662695 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. 1363.45 on 14-Feb-2024.

HDFC Bank

Last one week high and low of the scrip stood at Rs. 1526.05 and Rs. 1456.10 respectively. The current market cap of the company is Rs. 1150666.07 crore.

HDFC Bank The Institutions holding in the company stood at 83.02%, while Non-Institutions held 16.97% in the company.

HDFC Bank has reported growth of around 55.4% in its gross advances to around Rs 25,080 billion as of March 31, 2024 (Q4FY24) as compared to Rs 16,142 billion as of March 31, 2023 and a growth of around 1.6% (Rs 387 billion) over Rs 24,693 billion as of December 31, 2023.

The Bank’s deposits aggregated to around Rs 23,800 billion as of March 31, 2024, a growth of around 26.4% over Rs 18,834 billion as of March 31, 2023 and a growth of around 7.5% (Rs 1,660 billion) over Rs 22,140 billion as of December 31, 2023.

The Bank’s CASA deposits aggregated to around Rs 9,090 billion as of March 31, 2024, a growth of around 8.7% over Rs 8,360 billion as of March 31, 2023 and around 8.8% (Rs 734 billion) over Rs 8,356 billion as of December 31, 2023. Retail CASA grew by around 8.8% over March 31, 2023 and grew by around 6.3% (Rs 479 billion) over December 31, 2023. The Bank’s CASA ratio stood at around 38.2% as of March 31, 2024, as compared to 44.4% as of March 31, 2023 and 37.7% as of December 31, 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.



This post first appeared on Udaipur Kiran, please read the originial post: here

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HDFC Bank surges on reporting 55% rise in gross advances during fourth quarter of FY24

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