Oct 21, 2024 12:09 PM IST
The shares climbed to ₹1,740.55, with market valuation increasing by ₹46,433.29 crore. Standalone net profit grew to ₹16,820.97 crore.
Shares of HDFC Bank on Monday morning climbed more than 3.50 per cent after the firm posted a 6 per cent rise in September quarter net profit on a consolidated basis.
The stock increased 3.53 per cent to ₹1,740.55 per piece on the BSE.
On the NSE, it jumped 3.42 per cent to ₹1,739.50 apiece.
The company’s market valuation surged ₹46,433.29 crore to ₹13,29,281.58 crore during the morning trade.
The stock was the biggest gainer among the BSE Sensex and NSE Nifty firms.
HDFC Bank on Saturday reported a 6 per cent increase in September quarter net profit to ₹17,825.91 crore on a consolidated basis.
On a standalone basis, the largest private sector lender’s post-tax net grew to ₹16,820.97 crore during the reporting period, as against ₹15,976.11 crore in the year-ago period.
Its core net interest income grew 10 per cent to ₹30,010 crore on the back of a 7 per cent increase in gross advances and the margins being stable at 3.46 per cent.
The bank, which had guided towards doubling in size in four years recently, is operating as per market dynamics right now, its Chief Financial Officer S Vaidyanathan told reporters on a call.