Shares of country’s top two private sector lenders HDFC Bank Ltd and ICICI Bank Ltd are trading near their 52-week low and 52-week high, respectively. Shares of HDFC Bank, which is India’s largest lender in terms of market capitalisation and assets, are down 16% this year. The weakness in the Sensex heavyweight came even as the lender reported a 34 per cent rise in its standalone net profit to Rs 16,373 crore in Q3 against Rs 12,259 crore in the corresponding quarter of the previous fiscal year. The stock fell to a 52-week low of Rs 1363.45 on February 14, 2023. In the current session, the HDFC Bank stock was trading at Rs 1,422 mark against the previous close of Rs 1422.25 on BSE.
HDFC Bank shares breached the 52-week low of Rs 1460.55 today reached on October 26, 2023. The stock fell 10% last week after the bank reported earnings for the quarter ended December 2023 on January 16.
HDFC Bank share price jumped on Thursday to hit a new all-time high of Rs 1,734.40 apiece on NSE. Prior to hitting a record high on NSE, the private bank stock climbed to its new peak on BSE, hitting an intraday high of Rs 1,733 per share on BSE. Watch this Visual Story to know if you should buy HDFC Bank stock.