HDFC Bank scales record high after preferential allotment

HDFC Bank rose 1.04% to Rs 2,199.35 at 12:15 IST on BSE after the bank allotted 3.90 crore shares to HDFC by way of the preferential allotment.

The announcement was made after market hours yesterday, 17 July 2018.

Meanwhile, the S&P BSE Sensex was down 191.98 points or 0.53% at 36,327.98.

On the BSE, 73,000 shares were traded on the counter so far as against the average daily volumes of 68,000 shares in the past two weeks. The stock hit a record high of Rs 2,219.05 in intraday trade today, 18 July 2018. The stock has hit a low of Rs 2,181.60 so far during the day. The stock had hit a 52-week low of Rs 1,675.85 on 17 July 2017.

The large-cap bank has equity capital of Rs 520.83 crore. Face value per share is Rs 2.

HDFC Bank said that the bank allotted 3.90 crore shares to HDFC by way of the preferential allotment at Rs 2,174.09 per share, aggregating to Rs 8500 crore.

HDFC Bank reported 20.3% rise in net profit to Rs 4799.28 crore on 18.5% increase in total income to Rs 25549.66 crore in Q4 March 2018 over Q4 March 2017.

HDFC Bank is one of the leading private sector banks in India. As of 31 March 2018, the bank's distribution network was at 4,787 banking outlets and 12,635 ATMs.

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