HDFC Bank becomes India's third company after Reliance, TCS to cross Rs 15 lakh crore market cap; stock hits 52-week high
HDFC Bank Ltd made history on April 22, 2025, by becoming only the third Indian company to surpass a market capitalization of ₹15 lakh crore, following the footsteps of Reliance Industries and Tata Consultancy Services.
The milestone came as shares of the private sector lender climbed nearly 2% in Tuesday's session, hitting ₹1,965.10 in intraday trade. The stock touched an intraday high of ₹1,970.60—its new 52-week peak—before holding steady with a gain of ₹38.00 from its previous close of ₹1,927.10.
The rally was driven by strong Q4 FY25 earnings that exceeded analyst expectations. HDFC Bank reported a standalone net profit of ₹17,616 crore for the quarter, up 6.7% year-on-year and ahead of the projected ₹17,072 crore. Sequentially, profit rose 5.3%.
The bank's board also announced a dividend of ₹22 per share (face value ₹1) for FY25, with June 27, 2025, as the record date.
Strong operating metrics Net Interest Income (NII): ₹32,070 crore, up 10.3% YoY
Net Interest Margin (NIM): 3.54% (core NIM at 3.46%)
Gross NPA: 1.33% (down from 1.42% QoQ)
Net NPA: 0.43%
Provisions: ₹3,190 crore, down from ₹13,510 crore in Q4 FY24
Deposits: ₹25.28 lakh crore, up 15.8% YoY
Gross Advances: ₹26.44 lakh crore Retail loans: +9% Rural/Commercial: +12.8% Corporate loans: -3.6%
CASA Ratio: 34.8%
Capital Adequacy Ratio (CAR): 19.6% (vs 18.8% YoY)
Brokerage upgrades
The solid Q4 showing has prompted several brokerages to revise their target prices: Axis Capital: Maintains 'Buy', raises TP to ₹2,205 from ₹2,000
Jefferies: Reiterates 'Buy', hikes TP to ₹2,340 from ₹2,120
CLSA: Maintains 'Buy', ups TP to ₹2,200 from ₹1,785
Macquarie: 'Outperform' maintained, raises TP to ₹2,300
With robust financials, improved asset quality, and positive brokerage outlooks, HDFC Bank continues to strengthen its leadership among private sector banks and is well-positioned to sustain its growth momentum.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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