HDFC Bank rallied for the second straight day, gaining a record high of Rs. 1636.25. And with it the lender's market cap soared part Rs. 9 trillion mark on February 25, 2021. Nifty private bank also recorded gains of 1.62 percentThis was also due to government's lifting of embargo on private lenders for government businesses.
In the current regime and basis the last stock quote, RIL is the most valued company followed by TCS and then follows HDFC Bank.
Another push for the counter has been better than expected December earnings led by better NIM, higher non-interest income as well as stable asset quality.
There was also an improvement in asset quality with GNPA at 0.8% and net NPA at 0.1 percent, respectively.
"HDFC Bank continued to report steady and in-line performance amid economic recovery. Despite prudent approach to NPA risk management the bank was able to maintain profitability. HDFC Bank continued to provide adequately towards unrecognized stress due to Supreme Court injunction. HDFCB remains our preferred pick and we believe that it demands a higher valuation in the current uncertain environment, the banking sector is facing," Karvy Stock Broking had said in a report dated 28 January.