HDFC Bank close to a new high

HDFC Bank seems to be continuing with the fantastic run on the bourses. Today morning, the stock price rose to Rs.2322, just Rs.10 or 0.8% short of its 52-week high of Rs.2332.35, which it hit on 1st April. Stock has been gaining for the last 2 sessions and has risen 1.29% in the period.

The Bank provided its quarterly update and it looks like a good picture.

1) The Bank’s advances aggregated to approximately Rs. 8,195 billion as of March 31, 2019 as compared to Rs. 6,583 billion as of March 31, 2018 and Rs. 7,810 billion as of December 31, 2018.

2) The Bank’s deposits aggregated to approximately Rs. 9,230 billion as of March 31, 2019 as compared to Rs. 7,888 billion as of March 31, 2018 and Rs. 8,525 billion as of December 31, 2018.

3) The Bank’s CASA ratio stood at around 42% as compared to 43.5 % as of March 31, 2018 and 40.7% as of December 31, 2018.

4) During the quarter ended March 31, 2019, the Bank purchased loans aggregating Rs. 19.24 billion through the direct assignment route under the home loan arrangement with HDFC Ltd.