Clinks get louder in HDFC Bank counter on ADR rally

DALAL STREET SPIKES

The HDFC Bank Ltd scrip was up 4.67 per cent to Rs 709.95 as compared with its previous close of Rs 678.30. The surge in the scrip price was due to a rally in its ADR.

HDFC Bank's ADR, which comprises of three underlying equity shares of the bank, jumped 5.4 per cent to $53.98 on Monday.

HDFC has reported a consistent growth in bottom line over the last few years and has a strong asset quality with zero NPAs. The bank reported a net profit of Rs 183.53 crore for Q1 June 2005 as compared to Rs 139.97 crore in Q1 June 2004.