HDFC Bank Soars on Strong Profit Growth

HDFC Bank's shares surged over 3.50% after reporting a 6% rise in its September quarter net profit on a consolidated basis. Market valuation escalated by Rs 46,433.29 crore, marking a significant stock performance. Net interest income saw a 10% growth, driven by stable margins.

HDFC Bank's shares witnessed a robust rise, climbing more than 3.50% on Monday morning after the bank announced a 6% increase in its net profit for the September quarter on a consolidated basis.

The stock surged to Rs 1,740.55 per share on the BSE and Rs 1,739.50 on the NSE, resulting in a market valuation escalation of Rs 46,433.29 crore, reaching a total value of Rs 13,29,281.58 crore.

The stellar performance was the highest among BSE Sensex and NSE Nifty companies, buoyed by a 10% rise in core net interest income attributed to a 7% increase in gross advances and stable margins.

(With inputs from agencies.)