Bank’s US-listed shares rallied over 7%
BBN Bureau
Mumbai: HDFC Bank’s sterling performance in Q4 of FY24 catapulted its stock to a new high on April 5. The largest private sector lender in the county posted a robust growth in deposits in the quarter boosting investor confidence.
This uptick in deposit performance has garnered positive attention from various international brokerages who are bullish on the private lender and see up to 34 per cent upside in the stock from the last closing price.
Overnight, HDFC Bank’s US-listed shares rallied over 7 per cent. The bank’s American Depository Receipt (ADR) on the New York Stock Exchange (NYSE) climbed nearly $70.
Even as benchmark Nifty, and Sensex traded in the red, HDFC Bank shares at 9.31 am were trading 0.8 per cent higher on the National Stock Exchange.
