HDFC Bank Ltd Share Price – NSE  / BSE

Banks, Large Cap

HDFC Bank has approved the grant of 2,21,56,230 equity stock options of the face value of Re. 1/- (“options”) each at the grant price of Rs.1,734.20 (Rupees convertible into one equity share each of the Bank upon vesting and exercise in terms of the under Employees’ Stock Option Scheme ESOS – Plan H-2024 (ESOS 58).

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Total income rose 9.05% YoY to Rs 85,499.64 crore during the quarter as compared with Rs 78,406.23 crore in Q2 FY24.

Profit before tax (PBT) jumped 11.19% YoY to Rs 22,005.28 crore in Q2 FY25.

Net interest income (NII) increased 10% to Rs 30,110 crore in Q2 FY25 as compared with Rs 27,390 crore in Q2 FY24. Core net interest margin was at 3.46% on total asset in Q2 FY25.

Total deposits were at Rs 25,00,100 crore as of 30 September 2024, an increase of 15.1% over 30 September 2023. CASA deposits grew 8.1%, comprising 35.3 of total deposits as of September 2024.

Gross advances stood at Rs 25,19,000 crore as on 30 September 2024, registering a growth of 7% YoY. Retail loans jumped 11.3%, commercial and rural banking loans grew by 17.4% and corporate and other wholesale loans grew by 12%. Overseas advances constituted 1.7% of total advances.

On the asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 34,250.62 crore as on 30 September 2024 as against Rs 33,025.69 crore as on 30 June 2024 and Rs 31,577.89 crore as on 30 September 2023.

The ratio of gross NPAs to gross advances increased to 1.36% as on 30 September 2024 as against 1.33% as on 30 June 2024 and 1.34% as on 30 September 2023.

The ratio of net NPAs to net advances stood at 0.41% as on 30 September 2024 as against 0.39% as on 30 June 2024 and 0.35% as on 30 September 2023.

Pre-provision operating profit (PPOP) increased 27.24% YoY to Rs 23,884.64 crore during the quarter ended September 2024.

The total credit cost ratio was at 0.43% in Q2 FY25, as compared to 0.49% for the quarter ending 30 September 2023.

The bank's total capital adequacy ratio (CAR) as per basel III guidelines was at 19.8% as on 30 September 2024 as compared to 19.5% as on 30 September 2023. Tier 1 CAR was at 17.8% and common equity tier 1 capital ratio was at 17.3% as of 30 September 2024.

HDFC Bank is private sector lender. As of 30 September 2024, the bank's distribution network was at 9,092 branches and 20,993 ATMs across 4,088 cities / towns as against 7,945 branches and 20,596 ATMs across 3,836 cities / towns as of September 2024.

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The key equity indices traded sideways in morning trade. The Nifty slips below the 24,900 level. Media shares declined after gaining in the past trading session.

At 10:25 IST, the barometer index, the S&P BSE Sensex, advanced 23.16 points or 0.03% to 81,247.91. The Nifty 50 index declined 31.30 points or 0.13% to 24,822.75.

In the the broader market, the S&P BSE Mid-Cap index fell 0.10% and the S&P BSE Small-Cap index shed 0.50%.

The market breadth was positive. On the BSE, 1,377 shares rose and 2,290 shares fell. A total of 181 shares were unchanged.

Result Today:

360 ONE WAM (up 3.09%), Authum Investment & Infrastructure (up 2.50%), Aurionpro Solutions(up 0.47%), Bajaj Housing Finance (down 0.39%), Balu Forge Industries(down 1.49%), Bhansali Engineering Polymers(down 1.03%), CG Power and Industrial Solutions(up 3.36%), City Union Bank(down 1.20%), Cyient DLM(3.06%), Gravita India(down 0.26%), HFCL(down 0.31%), Mahindra Logistics(down 1.38%), Maharashtra scooters(up 6.95%), Rajratan Global Wire( up 4.71%), Route Mobile (up 1.36%), Solara Active Pharma Sciences(down 0.16%) will declare their result today.

Economy:

India's net direct tax collections jumped by 182.02% over last decade to Rs 19.60 lakh crore in FY24, from 6.95 lakh crore in FY15, following strong growth in personal income tax, the latest time series data from the Income Tax Department showed. Personal income tax collections zoomed up nearly 300% to Rs 10.45 lakh crore, from 2.65 lakh crore in FY15, outpacing corporate tax collections, which rose by 112.85% to Rs 9.11 lakh crore from Rs 4.28 lakh crore in FY15.

Buzzing Index:

The Nifty Media index fell 1.36% to 2,014.40. The index rose 1.38% in the past trading session.

Saregama India (down 3.5%), Dish TV India (down 3.17%), Tips Music (down 1.63%), Zee Entertainment Enterprises (down 1.58%) and Sun TV Network (down 0.93%), Hathway Cable & Datacom (down 0.86%), and PVR Inox (down 0.78%) declined.

Stocks in Spotlight:

HDFC Bank rallied 3.50% after the company reported 5.29% increase in standalone net profit to Rs 16,820.97 crore in Q2 FY25 as compared with Rs 15,976.11 crore in Q2 FY24. Total income rose 9.05% YoY to Rs 85,499.64 crore during the quarter as compared with Rs 78,406.23 crore in Q2 FY24.

Jio Financial Services shed 0.17%. The company ‘s consolidated net profit increased 3.13% to Rs 689.07 crore in Q2 FY25 as compared with Rs 668.18 crore in Q2 FY24. Total income jumped 14.11% to Rs 693.85 crore during the quarter as compared with Rs 608.04 crore in corresponding quarter last year.

JSW Steel fell 0.62%. The company said that Jsquare Electrical Steel Nashik, a subsidiary of the company’s joint venture entity, has entered into a share purchase agreement to acquire 100% of equity interest in thyssenkrupp Electrical Steel India. The total purchase consideration for the transaction is Rs 4,051.40 crore, subject to closing adjustments.

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Securities in F&O Ban:

Aarti Industries, Bandhan Bank, Birlasoft, Chambal Fertilizers & Chemicals, Gujarat Narmada Valley Fertilizers & Chemicals (GNFC), Granules India, Hindustan Copper, IDFC First Bank, IEX, L&T Finance, National Aluminium, PNB, Sail, Tata Chemical.

Results today:

360 ONE WAM, Authum Investment & Infrastructure, Aurionpro Solutions, Bajaj Housing Finance, Balu Forge Industries, Bhansali Engineering Polymers, CG Power and Industrial Solutions, City Union Bank, Cyient DLM, Gravita India, HFCL, Jana Small Finance Bank, Mahindra Logistics, Maharashtra scooters, Rajratan Global Wire, Route Mobile, Solara Active Pharma Sciences, Supreme Petrochem, Swaraj Engines will declare their result today.

Stocks to watch:

L&T Finance reported 16.88% jump in consolidated net profit to Rs 695.58 crore in Q2 FY25 as compared with Rs 595.11 crore in Q2 FY24. Total income increased 15.56% YoY to Rs 4,024.02 crore during the quarter.

Tech Mahindra’s consolidated net profit jumped 46.81% to Rs 1,250.1 crore on 2.36% rise in revenue from operations to Rs 13,313.2 crore in Q2 FY25 over in Q1 FY25. EBITDA stood at Rs 1,750 crore in the quarter ended 30 September 2024, up 11.9% QoQ and up 63.2% YoY.

Meanwhile, the company’s board has declared an interim dividend of Rs 15 per equity share for FY25. The record for the dividend is fixed as Friday, 1st November, 2024. The dividend shall be paid on or before 17th November 2024.

Kotak Mahindra Bank’s standalone net profit rose 4.78% to Rs 3,343.72 crore on 17.71% rise in total income to Rs 15,900.46 crore in Q2 FY25 over Q2 FY24. Net Interest Income (NII) for Q2 FY25 stood at Rs 7,020 crore, up 11% from Rs 6,297 crore recorded in Q2 FY24. Net interest margin (NIM) was 4.91% for Q2FY25.

HDFC Bank reported 5.29% increase in standalone net profit to Rs 16,820.97 crore in Q2 FY25 as compared with Rs 15,976.11 crore in Q2 FY24. Total income rose 9.05% YoY to Rs 85,499.64 crore during the quarter as compared with Rs 78,406.23 crore in Q2 FY24.

Jio Financial Services’ consolidated net profit increased 3.13% to Rs 689.07 crore in Q2 FY25 as compared with Rs 668.18 crore in Q2 FY24. Total income jumped 14.11% to Rs 693.85 crore during the quarter as compared with Rs 608.04 crore in corresponding quarter last year.

JM Financial said that the Reserve Bank of India (RBI) has, with immediate effect, lifted the restrictions imposed by it on JM Financial Products, a material subsidiary of the company. Offering an explanation of the aforesaid regulatory action, the RBI had said that this action was necessitated due to certain serious deficiencies observed in respect of loans sanctioned by the company for IPO financing as well as NCD subscriptions.

JSW Steel said that Jsquare Electrical Steel Nashik, a subsidiary of the company’s joint venture entity, has entered into a share purchase agreement to acquire 100% of equity interest in thyssenkrupp Electrical Steel India. The total purchase consideration for the transaction is Rs 4,051.40 crore, subject to closing adjustments.

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