HDFC Bank hits record high

HDFC Bank rose 1.17% to Rs 1,109.55 at 13:18 IST on BSE on reports that a prominent domestic brokerage has maintained its buy call on the stock.

Meanwhile, the S&P BSE Sensex was up 173.82 points or 0.62% at 28,372.11.

On BSE, so far 1.05 lakh shares were traded in the counter as against average daily volume of 1.09 lakh shares in the past one quarter.

The stock hit a high of Rs 1,115 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1,095.95 so far during the day. The stock had hit a 52-week low of Rs 792 on 11 August 2014.

The stock had outperformed the market over the past one month till 15 July 2015, surging 9.14% compared with Sensex's 6.06% rise. The scrip had also outperformed the market in past one quarter, jumping 6.43% as against Sensex's 2.09% fall.

The large-cap private bank has equity capital of Rs 502.29 crore. Face value per share is Rs 2.

The brokerage reportedly said that HDFC Bank is best placed in the current environment. It further added that HDFC Bank has most granular balance sheet amongst the Indian lenders and digitalization initiatives are gaining traction.

HDFC Bank's net profit rose 20.6% to Rs 2806.91 crore on 21.7% growth in total income to Rs 15570.13 crore in Q4 March 2015 over Q4 March 2014.

HDFC Bank is a leading private sector bank in India.

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