HDFC Bank shareholders are happy, the stock rocketed after this news
On July 3, the shares of the country's largest bank are trading with a boom. Today, HDFC Bank's stock has seen a great rise. At the time of writing the news, the company's shares were trading with a gain of more than 3 percent. Let us know in this article why HDFC Bank shares have risen today.
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The stock market is trading at an all-time high of $2,416 on July 3, 2024. The banking sector is going through an excellent boom today. Shares of HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, and IndusInd Bank emerged as significant gainers in the Sensex.
Today, the shares of HDFC Bank are trading with a tremendous boom. HDFC is the most significant bank in this country.
When writing the news, its shares were trading at Rs 1,786.70 per share, up 3.24 percent or Rs 56.10.
HDFC Bank provided information regarding its shareholding. The bank told the stock exchange that its FII stake had come down to 55 percent. Let us tell you that whenever the shareholding comes down, the weightage of the bank increases. After the weightage increases, inflow increases. It is now expected to be between $ 300 and $ 400.
Now, coming to the performance of HDFC Bank's stock, its share has returned 44.58 percent in the last five years. The same bank has given its shareholders returns of 3.93 percent in 1 year and 6.84 percent in the previous six months.
According to information on the BSE website, the M-Cap of HDFC Bank is Rs 13,60,446.39 crore. Anshul Jain, Head of Research, Lakshmi Shree has given the target on the share price of HDFC Bank at 2000+. That means one share price of HDFC Bank may cross Rs 2000.
