HDFC Bank at new high

HDFC Bank seems to be on a roll. Like yesterday, today also the stock went on to hit a lifetime high at Rs.1836.05, up 1.4%.

There is a lot of positive sentiments around the stock post its Q2 earnings and with may brokerage houses recommending and hiking the target price of the stock.

The Bank, for Q2FY25, posted a consolidated net revenue of Rs.76,000 crore, up 15% (YoY) while PAT came in at Rs.17,380 crore, up 17%.

For H1FY25, the consolidated PAT was at Rs.34,300 crore, up 17.5% and it had ended FY25 with a PAT of Rs.65,446 crore.

Its equity stands at Rs.763 crore; EPS is at Rs.23.40/Rs.21.67 (YoY). Book Value is at a solid Rs.631.40.

The Bank’s total capital adequacy ratio (CAR) stood at 19.8% v/s 19.5% (YoY), surpassing the regulatory requirement of 11.7%. In terms of its asset quality, there was a slight deterioration – Gross NPA rose from 1.33% to 1.36% (QoQ) while Net NPA too rose from 0.39% to 0.41%.

The Bank also announced launch of Pragati Savings Account yesterday, a move to expand into underserved rural and semi-urban areas across India.  It also announced a partnership with BigHaat, an agri-tech platform wherein the Bank’s customers, essentially farmers across India will receive exclusive discounts on farming tools, seeds, and fertilisers via BigHaat’s online marketplace.