HDFC Bank up 3%

HDFC Bank is doing pretty well today, on the back of its rock solid performance for Q2FY19. The stock price rose almost 3% today to Rs.2020.45. Its 52-week high is at Rs.2219.05.

The Bank posted a 21% jump in NII at Rs.11,763 crore and net profit came in at Rs.5006 crore, up 21% (YoY).

The market was happy mainly on account of its stable asset quality. Its Net NPA was stable at 0.40% v/s 0.41% (QoQ) and Gross NPA was unchanged at 1.33%.

Provisions and contingencies for the quarter came in at Rs 1,820 crore as against Rs 1,476.2 crore.