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HDFC Bank hits 52-week high, crosses Rs 6 trillion market cap mark

BusinessToday.In     March 13, 2019

The market capitalisation of HDFC Bank crossed Rs 6 trillion mark for the first time ever, after shares of the private sector lender spiked to an all-time high on Wednesday. Driven by heavy volume, shares of HDFC Bank rose as much as 2.87 percent in intra-day trade to hit 52-week high of Rs 2,233, surpassing its previous high of Rs 2,220 recorded on July 18, 2018.

At close of trade on Wednesday, the market cap of HDFC Bank stood at Rs 6,05,932.79 crore on the BSE, making it only the third Indian firm to achieve the milestone after Tata Consultancy Services and Reliance Industries.

HDFC Bank shares climbed 2.56 per cent to settle at Rs 2,226.10 apiece, paring some of early gains. The bank's stock ended higher for the fifth session in a row, rising over 6 per cent during the period.

In a similar trend, stocks of the lender ended at Rs 2,229, up 2.67 per cent, on the National Stock Exchange.

According to data available with exchange, as much as 3 lakh shares changed hand over the counter as compared to two-week average of 1.06 lakh shares on the BSE.

On Tuesday, the bank said in a exchange filing that the meeting of its Board of Directors will be held on April 20, 2019, to consider and approve the audited financial results for the quarter and year ending March 21, 2019 along with the consolidated accounts for the financial year and recommendation of dividend, if any.

"The trading window for dealing in securities of the Bank will remain closed from 25th March, 2019 to 22nd April, 2019 (both days inclusive) for the designated employees, directors, pursuant to the applicable SEBI Regulations," it said in the filing to BSE.

Meanwhile, bankex index emerged as the biggest sectoral gainer on BSE, closing at 32,355.59, up by 452.6 points, or by 1.42 per cent. The top gainer in the banking space was IndusInd Bank (Rs 1,636.25, 4.15%), followed by YES Bank (Rs 244.35, 3.67%), HDFC Bank (Rs 2226.10, 2.56%), State Bank of India (Rs 292.65, 2.15%), ICICI Bank (Rs 391.85, 0.94%), among others.

Edited by Chitranjan Kumar

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