HDFC Bank stock jumps 16.39% to ₹778.80, market cap ₹12tn+
Business
HDFC Bank's stock has been on a roll, climbing 16.39% from its 52-week low to hit ₹778.80 and push the bank's market value past ₹12 trillion.
The buzz started just nine days ago when shares were at ₹669.20, and Friday saw strong trading momentum with the stock opening high and touching an intraday peak.
HDFC Bank volume 430.79L, P/E 14.64
Friday saw a massive spike in trading: 430.79 lakh shares changed hands, making it the busiest session of the week.
While sellers still outnumbered buyers, investor confidence is up, reflected in a higher price-to-earnings (P/E) ratio of 14.64.
Even though HDFC Bank is still down 21.41% this year, this recent surge hints that many believe better days could be ahead for the private lender.