HDFC Bank is trading higher by 1.8% at Rs 539
HDFC Bank is trading higher by 1.8% at Rs 539.70, near its all-time high of Rs 539.90 ahead of the financial results for the fourth quarter ended March 2012, scheduled to be declared today.
India’s second largest private sector lender is likely to post a 28% year-on-year growth in net profit at Rs 1,427 crore for the fourth quarter of FY12, according to Kotak Securities. Net interest income (NII) is seen at Rs 3,259 crore versus Rs 2,840 crore, up 15%, y-o-y.
A combined 1.92 million shares have already changed hands so far, against an average around 2.5 million shares that were traded daily in past two weeks on the NSE and BSE.
According to CRISIL, the Indian arm of Standard & Poor which rates over 9,000 issuers in India, credit ratings have fallen the most in three ...