HDFC Bank hits 52-week low; slips 18% in 1 month wiping out Rs 2.3 trn mcap

Shares of HDFC Bank hit a 52-week low of Rs 1,363.45, down 2%, falling below its previous low of Rs 1,382.40 touched on January 24.

Shares of HDFC Bank hit a 52-week low of Rs 1,363.45, down 2 per cent on the BSE in Wednesday’s intra-day. The stock of the country’s largest private sector lender was quoting at its lowest level since July 2022 (pre-HDFC merger). It fell below its previous low of Rs 1,382.40 touched on January 24. 

In past one month, HDFC Bank has underperformed the market by falling 18 per cent after the bank reported a disappointing set of numbers for the quarter ended December (Q3FY24). HDFC Bank has seen a market capitalisation (m-cap) erosion of Rs 2.34 trillion during this period. In