Heavy selling in HDFC Bank shares, stock fell more than 4 percent after this information
This week, HDFC Bank shares reached an all-time high, but today the company's stock has seen a decline. The company's shares are trading down more than 4 percent. On Thursday, HDFC Bank gave an information to the stock exchange. After this information, the bank's stock has declined.
HDFC Bank is India's largest bank. Today, HDFC Bank shares have been selling. This week, HDFC Bank's stock touched an all-time high.
At the time of writing, HDFC Bank shares (HDFC Bank Share Price) were down Rs 72.65, or 4.21%, to Rs 1,654.50 per share.
HDFC Bank informed the stock exchange that its growth in the first quarter was lower than planned. According to numerous brokerages, the stock has fallen due to slower growth than investors anticipated. When HDFC Bank provided MSCI-related information this week, its shares jumped substantially.
HDFC Bank told the stock market that gross advances grew 52.6 percent to Rs 24.87 lakh crore in the quarter ended June 2024. It was Rs 16.3 lakh crore in the March quarter.
Let us tell you that HDFC Bank has not yet released the results for the first quarter of the current financial year. According to the information available on the BSE website, the bank will release the June quarter results on July 20, 2024. The bank had told the stock exchange that the board meeting of HDFC Bank will be held on July 20.
The performance of HDFC Bank's stock is not as good as expected. In the last 5 years, the bank's stock has given a return of only 33.81 percent. At the same time, in 1 year, the bank's stock has given a negative return of 1.14 percent.
If we talk about the M-Cap of the bank, then the M-Cap of HDFC Bank is Rs 12,59,714.85.
