You are here: Home » Companies » News
Business Standard

Shares of HDFC jump over 8%; m-cap rises by Rs 37,700.98 crore

Shares of HDFC jumped over 8 per cent after the mortgage lender said its business is returning to pre-COVID-19 levels.

Topics
HDFC Bank shares | HDFC Bank

Press Trust of India  |  New Delhi 

hdfc bank.png

Shares of HDFC jumped over 8 per cent after the mortgage lender said its business is returning to pre-COVID-19 levels.

The stock zoomed 8.35 per cent to close at Rs 1,934.45 on the BSE. During the day, it rose by 8.83 per cent to Rs 1,943.

HDFC was the top performer in the Sensex pack.

On the NSE, it gained 7.56 per cent to settle at Rs 1,920.

The company's market valuation jumped Rs 37,700.98 crore to Rs 3,47,388.98 crore on the BSE.

In traded volume terms, 6.83 lakh shares were traded on the BSE and 1.68 crore on the NSE.

Housing finance major HDFC Ltd on Monday said its individual loan disbursements in the second quarter of 2020-21 reached 95 per cent of the level in the year-ago period and September saw the strongest recovery since the outbreak of COVID-19 pandemic, suggesting business is returning to pre-crisis levels.

The individual loan business has continued to see a month-on-month improvement in July-September 2020, HDFC Ltd said in a regulatory filing.

The number of loan applications received during the period grew by 12 per cent over the quarter a year ago while individual loan approvals grew by 9 per cent compared to the year-ago period, it said.

"For the quarter ended September 30, 2020, individual loan disbursements were at 95 per cent of the level in the corresponding quarter of the previous year.

"The month of September 2020 has seen the strongest recovery since the outbreak of the pandemic and the levels have exceeded the levels in the corresponding month of the previous year," HDFC said.

HDFC and accounted for over half of the Sensex's gains. rose by 2.70 per cent to close at Rs 1,144.20 on the BSE.

The BSE benchmark zoomed 600.87 points or 1.54 per cent to close at 39,574.57.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, October 06 2020. 19:53 IST
RECOMMENDED FOR YOU
.