HDFC Bank gains 2% after profit jump, bonus share news
HDFC Bank's shares climbed 2.27% on Monday, closing at ₹2,001.90.
The boost came after the bank posted a solid 12% jump in profit for April-June (₹18,155 crore), and surprised investors with a 1:1 bonus share issue.
Steady profit growth
If you're following the markets or thinking about investing, HDFC Bank's steady profit growth—even as margins dipped—shows it's still a heavyweight.
The bank kept most bad loans in check (except some stress in farm loans), and its big deposit base remains strong, based on historical performance.
Sensex and Nifty also up
The upbeat results didn't just lift HDFC Bank; they helped push up the Sensex (+323 points) and Nifty (+92 points) too.
Despite higher costs eating into margins, investors are feeling good about the bank's reliable track record and focus on asset quality—making it one to watch this earnings season.