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HDFC Bank share closes 10% higher on growth in advances, deposits

The lender's advances grew 6.3% to Rs 9.93 lakh crore while deposits rose 7.4% over the previous quarter to Rs 11.46 lakh crore, on a quarterly basis.

twitter-logo BusinessToday.In        Last Updated: April 7, 2020  | 18:28 IST
HDFC Bank share closes 10% higher on growth in advances, deposits
Advances climbed 21%, while deposits grew 24% on an annual basis.

HDFC Bank shares closed over 10% higher on Tuesday after the lender posted healthy growth in its advances and deposits in March.

HDFC Bank share price opened with a gain of 7.68% and later touched an intraday high of Rs 906, rising 11.38% against the last closing of Rs 813.50 on BSE.

The large cap stock closed 10.18% or 82 points higher at Rs 896 on BSE. Its market capitalisation rose to Rs 4.91 lakh crore. HDFC Bank stock has gained 3.98% in one week. HDFC Bank stock price trades higher than 5-day moving averages but lower than 20, 50, 100 and 200-day moving averages.

The lender's advances grew 6.3% to Rs 9.93 lakh crore while deposits rose 7.4% over the previous quarter to Rs 11.46 lakh crore, on a quarterly basis.

As per the filing, advances and deposits stood at Rs 9.36 and Rs 10.67 lakh crore at the end of December 2019, respectively.

Advances climbed 21%, while deposits grew 24% on an annual basis.

The CASA (current account saving account) ratio stood at 42% as of March 31 as compared to 42.4% a year ago and 39.5% on December 31 last year, HDFC Bank said.

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