HDFC Bank gains after raising funds by way of debentures

HDFC Bank gained 1.27% to Rs 1,070.55 at 10:45 IST on BSE after the bank issued and allotted senior, unsecured, redeemable, long term, non-convertible bonds in the nature of debentures amounting to Rs 2975 crore on a private placement basis.

The bank made the announcement after market hours yesterday, 15 December 2015.

Meanwhile, the S&P BSE Sensex was up 190.70 points or 0.75% at 25,511.14.

On BSE, so far 13,858 shares were traded in the counter as against average daily volume of 88,910 shares in the past one quarter.

The stock hit high of Rs 1,073.10 and low of Rs 1,062 so far during the day. The stock had hit a record high of Rs 1,127.90 on 21 July 2015. The stock had hit a 52-week low of Rs 916.45 on 17 December 2014.

The stock had outperformed the market over the past one month till 15 December 2015, advancing 0.58% compared with Sensex's 1.13% fall. The scrip had also outperformed the market in past one quarter, gaining 4.51% as against Sensex's 1.5% fall.

The large-cap bank has equity capital of Rs 504.60 crore. Face value per share is Rs 2.

HDFC Bank said that 29,750 bonds of face value Rs 10 lakh each were alloted on a private placement basis.

HDFC Bank's net profit rose 20.5% to Rs 2869.45 crore on 24.7% rise in total income to Rs 17324.28 crore in Q2 September 2015 over Q2 September 2014.

HDFC Bank is one of the leading private sector banks in India.

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