In an interaction with Rahul Jain, managing director of global investment research at Goldman Sachs India Securities Pvt Ltd, Jagdishan gave an overview of the loans and deposits in HDFC Bank’s balance sheet post the merger.
Shares of HDFC Bank were trading lower today after the private sector lender reported a 20.91 per cent rise in its June quarter net profit. HDFC Bank stock fell up to 1.60 per cent to Rs 1,342 against the previous close of Rs 1,363.85 on BSE. HDFC Bank shares are trading higher than 50-day moving averages but lower than 5-day, 20-day, 100-day and 200-day moving averages . The large cap stock has lost 11.66 percent in a year and fallen 9.16 per cent in 2022. Total 9.62 lakh shares of the firm changed hands amounting to a turnover of Rs 130.65 crore on BSE. The market cap of the firm fell to Rs 7.46 lakh crore on BSE.
Shares of HDFC Bank were among the top Sensex gainers today, rising over 3 percent in the afternoon session. HDFC Bank stock touched an intraday high of Rs 1370.55, climbing 3.13 per cent against the previous close of Rs 1328.40 on BSE. It has gained 4.64 per cent in three sessions. HDFC Bank share is trading higher than 5-day and 20-day moving averages but lower than 50-day, 100-day, and 200-day moving averages.
Analysts on Dalal Street gave a thumbs up to the announcement. They believe that the merged entity will gain from the cross-selling opportunities and synergies.