HDFC Bank gains after large bulk deal

HDFC Bank rose 1.2% to Rs 1,247.50 at 14:57 IST on BSE after a bulk deal of 41.02 lakh shares was executed on the scrip at Rs 1,239.25 per share at 11:52 IST on BSE.

Meanwhile, the S&P BSE Sensex was up 83.33 points or 0.31% at 27,321.39

Bulk deal boosted volume on the scrip. On the BSE, 44.04 lakh shares were traded on the counter so far as against the average daily volumes of 1.38 lakh shares in the past one quarter. The stock had hit a high of Rs 1,247.70 and a low of Rs 1,234.60 so far during the day.

The stock had hit a 52-week high of Rs 1,318.20 on 23 September 2016. The stock had hit a 52-week low of Rs 928.80 on 29 February 2016. The stock had outperformed the market over the past 30 days till 13 January 2017, rising 4.77% compared with the 2.71% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 2.28% as against Sensex's 1.57% decline.

The large-cap bank has equity capital of Rs 511.07 crore. Face value per share is Rs 2.

HDFC Bank's net profit rose 20.41% to Rs 3455.33 crore on 15.27% growth in total income to Rs 19970.89 crore in Q2 September 2016 over Q2 September 2015.

HDFC Bank is one of the leading private sector banks in India. As of 30 September 2016, the bank's distribution network was at 4,548 branches and 12,016 ATMs across 2,596 cities/towns.

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