Bank’s stock jumped due to better results
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HDFC Share Price: Today tremendous buying is being seen in the stock of the country’s largest private bank. Actually, the bank has released its business results for the January-March quarter. The company’s performance in this quarter has been tremendous. HDFC Bank said in the information given to the exchange that on quarterly basis the deposits of the company increased by 7.5% to Rs 23.8 lakh crore. Compared to the same quarter last year, this year a tremendous growth of 26.4 percent has been seen. Also, the CASA deposits of the bank stood at Rs 9.09 lakh crore as of March 31. As of the last day of the financial year, gross advances have also increased by 1.6% to Rs 25.08 lakh crore as compared to the previous quarter. Whereas, on annual basis it is seeing a growth of 55.4%. After this news, at 1.15 pm the bank’s stock was trading at Rs 1,550.45 with a rise of 1.50 percent i.e. Rs 22.85.
What is the expert’s opinion?
Most of the market experts have given green signal to buy the bank’s stock. Macquarie analysts believe HDFC Bank stock is attractive at current valuations and investors should buy for a target of Rs 2,000. At the same time, HSBC has also advised to ‘buy’ the stock with a target price of Rs 1,750 per share.
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How is the stock performing?
HDFC has given investors a return of 5.75 percent in the last five days. Whereas, in the last one month, the company’s stock has given a return of 7.61 percent to the investors. However, investors have been slightly disappointed on a six-monthly basis. He got only 0.96 percent return. On an annual basis, investors have received a negative return of 6.25 percent. On April 6, 2023, the company’s stock price was Rs 1666.35.
,Disclaimer: Investing in stock market or IPO is subject to market risk. Before investing in any share, get complete information from a good financial advisor. We are not encouraging investment in any company.,
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