Big fall in HDFC Bank shares, more than 8% fall

There was a big fall in HDFC Bank shares on Wednesday. HDFC Bank shares have fallen by more than eight percent during this period. The bank’s shares closed at the level of 1678.95 on Tuesday. This is the biggest fall in HDFC Bank shares since April 18, 2022. After the quarterly results of the bank, a decline in its ADR was seen. After this it is believed that this decline has occurred.

According to the information, after the fall in US shares, HDFC Bank shares fell by seven percent in the Indian markets on Wednesday. This has been the highest single-day decline in HDFC Bank shares on the New York Stock Exchange since April 2022. During that period HDFC Bank shares had fallen by 7.5 percent. Among Sensex companies, HDFC Bank fell by more than eight percent. The company’s stock has come down after the quarterly results. HDFC Bank released financial results on Tuesday. According to this, its consolidated net profit in the October-December quarter increased by 2.65 percent to Rs 17,258 crore. Due to this, it had made a net profit of Rs 16,811 crore in the last September quarter. Other stocks that were major losers included Tata Steel, Kotak Mahindra Bank, Axis Bank, ICICI Bank, JSW Steel, Bajaj Finserv, Maruti, IndusInd Bank and State Bank of India.

HDFC had released the results

The net profit of the largest private sector lender HDFC Bank on standalone basis increased by 34 percent to Rs 16,373 crore in the third quarter of the current financial year. The bank gave this information on Tuesday. The net profit of the bank in the same quarter of the last financial year was Rs 12,259 crore. HDFC Bank told the stock market that its total income on standalone basis stood at Rs 81,720 crore in the quarter under review, which was Rs 51,208 crore in the same quarter of the last financial year.

The bank’s profit on a consolidated basis increased by 39 percent to Rs 17,718 crore from Rs 12,735 crore in October-December, 2022. The total income of the bank on a consolidated basis in the quarter under review reached Rs 1,15,015 crore, which was Rs 54,123 crore in the same quarter of the last financial year. In terms of asset quality, the bank’s gross non-performing assets (NPAs) on total loans increased marginally to 1.26 per cent in the December, 2023 quarter from 1.23 per cent in the December, 2022 quarter. However, during this period the net NPA of the bank remained at 0.31 percent, which was 0.33 percent in the same quarter of the last financial year.