At a time when the larger markets struggle to find some positive movement in trading sessions, the harbinger of the latest earning season has brought Q2 updates to the markets.
HDFC Q2 Updates
Recently, Dabur's Q2 updates, which indicated a decline in its revenue, resulted in a major decline of the company shares at Dalal Street on Thursday, October 3.
Now, according to some new reports, HDFC Bank Q2 Updates have thrown open some interesting numbers. The bank reported gross advances growth of 7 per cent at Rs 25.19 lakh crore as of September 30, 2024. This figure is greater than the one recorded on September 30, 2023, when the figure stood at Rs 23.54 lakh crore.
In addition, while corporate & other wholesale loans were lower by Rs 13,300, retail loans grew by around Rs 33,800 crore. The commercial and rural banking loans grew by around Rs 38,000 crore.
The markets, however, have come to today's trade with a lukewarm response. The company shares were trading in red in the early hours of the day's trade. However, it is to be noted that the said decrease in value, at the time of writing, is relatively low, with a decline of under 0.30 per cent. Eventually it entered the green territory.
HDFC Bank Shares over the past 5 trading sessions. |
But the bank's shares have been trading in red for most of the week, as just in the past 5 trading sessions alone, the Mumbai-based lender's stock price has lost over 5 per cent of its value.
Nifty Bank In Red
This, of course, is not necessarily an outlier because, as mentioned before, the Indian markets have shrouded in clouds of red.
The Nifty Bank Index itself has incurred significant losses in the past 5 trading sessions.
HDFC Shares On Friday
At the time of writing, HDFC Bank shares moved from the phase of initial decline, recovering with marginal gains.
At 11:09 IST, the bank shares rose in value by 0.27 per cent or Rs 4.60. This took the overall value of the shares to Rs 1,686.60.
