Best Day In 3 Weeks For HDFC Bank Shares On Robust Loan Growth

HDFC Bank shares were the biggest boost to benchmark indices Sensex and Nifty in morning deals

HDFC Bank shares gained nearly 4 per cent on Monday after the country’s top private sector lender reported a jump of 21 per cent in loans as of June-end. On the BSE, the HDFC Bank stock gained by Rs 40.80 to trade at Rs 1,115.50 apiece at the strongest level recorded during the session. This marked the best day for HDFC Bank shares in three weeks. The shares outperformed the markets, and were the best percentage gainers on benchmark indices Sensex and Nifty in morning deals. 

In a regulatory filing on Saturday, HDFC Bank said its advances stood at Rs 10,04,500 crore as of June 30, 2020, compared to Rs 8,29,700 crore as of June 30, 2019. At the end of the January-March period, its loans had come in at Rs 9,93,700 crore, it said. 

Deposits aggregated to Rs 11,89,500 crore as of June 30, 2020, marking a growth of around 25 per cent compared to the year-ago period.

HDFC Bank said its CASA (current account and savings account) ratio was at around 40 per cent as of June 30, as against 42.2 per cent as of March 31, 2020, and 39.7 per cent as of June 30, 2019. CASA ratio is the ratio of deposits in current and saving accounts compared to total deposits.

In the first quarter of current financial year, HDFC Bank said it purchased loans aggregating to Rs 1,376 crore through the direct assignment route under the home loan arrangement with Housing
Development Finance Corporation (HDFC). 

At 10:04 am, HDFC Bank shares traded up 3.77 per cent at Rs 1,114.65 apiece on the bourse, much higher than a 1.14 per cent jump in the Sensex index amid gains across sectors tracking global markets.

Domestic stock markets took positive cues from Asian peers, where shares scaled four-month peaks as investors counted on super-cheap liquidity and fiscal stimulus to sustain the global economic recovery, even as surging COVID-19 cases delayed re-openings across the US.

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