HDFC Bank Shares Reach On A Record High

New Delhi: HDFC share price reached a record high during early trade on Bombay Stock Exchange (BSE) on Monday.

The share was trading at Rs 1715 with a gain of about 2 percent.

As per the second quarter results, released by HDFC on Saturday, the bank's new profit grew by 17 percent to Rs 8,834 crore as against Rs 7,513 crore in the same quarter of the previous financial year.

With a fall of 0.60 percent, the share was trading at 1675.80 at 10:10 AM.

The total income of the bank was Rs 41,436 in the second quarter of the Financial Year (FY) 2021-22, while on the other hand in the second quarter of the last financial year i.e 2020-21, the bank's total profit was Rs 38,438.

Notably, during this period, the Net Interest Income (NII) of the bank also saw a increase of 12.1 percent to 17,684.4 crore. It was Rs 15,776.4 crore in the corresponding quarter of the previous financial year. The asset quality of the bank has improved on a quarterly basis.

The bank has not only performed in terms of earning profit, but it has also reported decline in Non-Performing Assests. The bank's gross NPA witness a decline of 1.35 percent in the second quarter of 2021-22 from 1.4 per cent in the June 2021 quarter.

The HDFC share price today is Rs 1,688.95 on BSE. Meanwhile, ICICI Securities has buy call on HDFC Bank with a target price of Rs 1955. The current market price of HDFC Bank Ltd. is Rs 1687.8, however, market experts think that in one year the share price of the bank can reach defined target.

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