HDFC Bank rises as board to mull stock split

HDFC Bank rose 0.80% to Rs 2347 at 9:20 IST on BSE after the bank said that its board will consider stock split on 22 May 2019.

The announcement was made after market hours yesterday, 6 May 2019.

Meanwhile, the S&P BSE Sensex was up 143.38 points, or 0.37% to 38,743.72.

On the BSE, 7,922 shares were traded in the counter so far compared with average daily volumes of 1.73 lakh shares in the past two weeks. The stock had hit a high of Rs 2363 and a low of Rs 2344 so far during the day. The stock hit a 52-week high of Rs 2,376 on 3 May 2019. The stock hit a 52-week low of Rs 1,884.40 on 31 October 2018.

The board of HDFC Bank will mull a proposal to split one equity share of face value of Rs 2 each into two equity shares of face value of Re 1 each.

HDFC Bank's net profit rose 22.63% to Rs 5,885.12 crore on 22.13% rise in total income to Rs 31,204.46 crore in Q4 March 2019 over Q4 March 2018.

HDFC Bank caters to a wide range of banking services covering commercial and investment banking on the wholesale side and transactional / branch banking on the retail side.

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