HDFC Share Price: Shares of HDFC Bank rose in Wednesday’s session (December 4) to a fresh high for the second straight session to Rs 1,844.8 per share on the BSE. The gains in the heavyweight stock also lifted headline indices with Nifty touching 24,552 levels in trade today.
The stock has been gaining for four straight session and has inched higher by around 3 per cent from Rs 1,793 as at the close on November 28.
The stock’s market capitalization is at Rs 14.09 lakh crore.
The sharp gains in the stock are being spurred as a result of the recent quarterly rebalancing of the Morgan Stanley Capital International (MSCI) indices.
This important rebalancing event is projected to draw in substantial foreign institutional investment, with estimates suggesting that around $1.88 billion will flow specifically into HDFC Bank.
HDFC Bank, now the largest private-sector bank following its merger with HDFC Ltd., showcases a formidable market position through its strong CASA ratio and balanced loan portfolio.
Banks exhibit remarkable growth across retail and wholesale lending segments, positioning them as top investment choices for long-term investors seeking stability and consistent performance in the Indian banking sector, noted Atul Parakh, CEO of Bigul.
