Latest News | HDFC Bank Shares Jump 3 Pc on Robust Q1 Earnings

New Delhi, Jul 20 (PTI) Shares of HDFC Bank on Monday rose 3 per cent adding Rs 18,475.76 crore to its market valuation, buoyed by the lender's strong June quarter numbers.

The stock gained 3.06 per cent to close at Rs 1,132.80 on the BSE. During the day, it rose 4.86 per cent to Rs 1,152.65.

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On the National Stock Exchange (NSE), it jumped 2.87 per cent to close at Rs 1,130.

The company's market valuation also rose Rs 18,475.76 crore to Rs 6,21,938.76 crore on the BSE.

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In terms of traded volume, 20.48 lakh shares were traded on the BSE and over 3 crore shares on the NSE during the day.

HDFC Bank on Saturday reported nearly 20 per cent rise in its standalone net profit at Rs 6,658.62 crore for the June 2020 quarter.

Its income increased to Rs 34,453.28 crore for the reported quarter from Rs 32,361.84 crore a year ago.

The lender's net interest income (interest earned minus interest expended) for the quarter grew 17.8 per cent to Rs 15,665.4 crore from Rs 13,294.3 crore in the same period a year ago, driven by growth in advances of 20.9 per cent and a rise in deposits of 24.6 per cent, the bank had said.

Also, on the asset quality front, there was improvement as gross non-performing assets (NPAs) fell to 1.36 per cent of the gross advances as on June 30, 2020, from 1.40 per cent by the end of June 2019.

In value terms, gross NPAs or bad loans were at Rs 13,773.46 crore as against Rs 11,768.95 crore.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)