HDFC Bank, HDFC extend gains; advance over 3% in two trading days

In the past three months, HDFC Bank (up 13 per cent) and HDFC (up 15 per cent) have outperformed the benchmark S&P BSE Sensex

Deepak Korgoankar Mumbai

Shares of HDFC twins – HDFC Bank and Housing Development Finance Corporation (HDFC) - were trading higher for the second straight day, gaining over 3.4 per cent in the past two trading days.

At 10:59 AM, HDFC Bank was up 1.5 per cent at Rs 1,632, while HDFC was up 1.3 per cent at Rs 2,674 on the BSE. In comparison, the S&P BSE Sensex traded 0.42 per cent higher at 60,908.

In the past three months, HDFC Bank (up 13 per cent) and HDFC (up 15 per cent) have outshone the markets as the benchmark index recorded 3 per cent gain during the period.

During HDFC Bank's earnings call , the management said the final hearing of NCLT, regarding the merger with HDFC, would take place on January 27, 2023, post which regulatory process will remain to be undertaken.

India's largest private lender HDFC Bank, on January 14, reported an 18.5 per cent year-on-year (YoY) increase in net profit to Rs 12,259 crore in the third quart

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First Published: Jan 18 2023 | 11:23 AM IST

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