HDFC Bank gains as board to mull raising capital

HDFC Bank rose 1.97% to Rs 820.55 at 9:32 IST on BSE after the bank said its board will meet today, 19 May 2014, to consider raising capital.

The announcement was made after market hours on Friday, 16 May 2014.

Meanwhile, the BSE Sensex was up 150.72 points, or 0.62%, to 24,272.46.

On BSE, so far 2.09 lakh shares were traded in the counter, compared with an average volume of 2.02 lakh shares in the past one quarter.

The stock hit a high of Rs 825.65 and a low of Rs 812.55 so far during the day. The stock hit a record high of Rs 852.35 on Friday, 16 May 2014. The stock hit a 52-week low of Rs 528 on 28 August 2013.

The stock had outperformed the market over the past one month till 16 May 2014, rising 10.95% compared with 8.28% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 25.39% as against Sensex's 18.44% rise.

The large-cap company has an equity capital of Rs 480.21 crore. Face value per share is Rs 2.

HDFC Bank said its board will also seek appropriate enabling shareholder approvals for such capital raising at the ensuing annual general meeting (AGM) to be held on 25 June 2014.

HDFC Bank's net profit rose 23.11% to Rs 2326.52 crore on 14.94% increase in total income to Rs 12789.98 crore in Q4 March 2014 over Q4 March 2013.

HDFC Bank is a leading private sector bank in India.

Powered by Capital Market - Live News