Market Cap Milestone: HDFC Bank’s market capitalization surpassed ₹14 lakh crore for the first time on November 28, 2024. Stock Price Surge: The bank’s stock price has risen over 5% in the past week, reaching a new all-time high of ₹1,801.90.Year-to-Date Performance: The stock has gained approximately 32% from its 52-week low.
Factors Driving the Surge:
Strong Financial Performance:
HDFC Bank reported a 5.3% year-on-year increase in profit for the September quarter.The bank continues to demonstrate robust loan growth and asset quality improvement.
Positive Market Sentiment:
Favorable market sentiment following recent political developments has boosted investor confidence.
Increased weightage in the MSCI Emerging Markets Index is expected to attract significant foreign inflows