The days of HDFC Bank, the country’s largest private lender, are not going well for some time. There is a continuous decline in bank shares. Amid concerns about margins, HDFC Bank shares fell for the third consecutive day on Wednesday. The special thing is that in these three days, the bank’s shares have seen a decline of more than 8 percent. Due to which the valuation of the bank has decreased by Rs 1 lakh crore. Let us also tell you what kind of figures are being seen for HDFC Bank shares in the stock market…
8 percent decline, Rs 1 lakh crore cleared
The stock fell 1.09 percent to close at Rs 753.15 on BSE. During the day, it declined by 1.47 percent and settled at Rs 750.25. On NSE, it declined by 1 per cent and closed at Rs 753.15. In three days, the stock fell 8.11 per cent, shaving Rs 1 lakh crore off its market valuation. Its market valuation was Rs 11,59,950.98 crore. With this, the company slipped to third place in the market capitalization ranking. Bharti Airtel became the second most valuable company with a market valuation of Rs 12,16,839.14 crore. Reliance Industries is the most valuable company in the country with a market cap of Rs 17,44,141.25 crore.
HDFC Bank disappointed
According to market experts, HDFC Bank has disappointed in terms of net interest margin. HDFC Bank on Saturday reported a 5 per cent increase in standalone net profit at Rs 19,060 crore for the June quarter. The country’s largest private sector lender had earned a net profit of Rs 18,155 crore in the same period last year. However, HDFC Bank said in a regulatory filing that the total income of the bank during the quarter under review declined to Rs 92,184 crore from Rs 99,200 crore in the same period a year ago.
Operating profit decreased
The lender’s interest income increased to Rs 79,363 crore from Rs 77,470 crore in the same quarter a year ago. During this period, the bank’s operating profit declined to Rs 28,169 crore, compared to Rs 35,734 crore in the same quarter a year ago. The company said that in the June quarter, net interest income increased by 7 percent to Rs 33,530 crore, which was Rs 31,440 crore a year ago. Net interest margin on total assets was 3.26 percent and 3 percent on interest-earning assets.
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