logo
HDFC Bank Ltd soars 1.44%, rises for third straight session

HDFC Bank Ltd soars 1.44%, rises for third straight session

HDFC Bank Ltd is quoting at Rs 1977.6, up 1.44% on the day as on 12:49 IST on the NSE. The stock is up 25.69% in last one year as compared to a 7.26% gain in NIFTY and a 13.62% gain in the Nifty Bank index.
HDFC Bank Ltd rose for a third straight session today. The stock is quoting at Rs 1977.6, up 1.44% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.93% on the day, quoting at 24981.3. The Sensex is at 82143.11, up 0.86%. HDFC Bank Ltd has added around 1.64% in last one month.
Meanwhile, Nifty Bank index of which HDFC Bank Ltd is a constituent, has added around 3.62% in last one month and is currently quoting at 55760.85, up 1.48% on the day. The volume in the stock stood at 92.87 lakh shares today, compared to the daily average of 101.58 lakh shares in last one month.
The benchmark June futures contract for the stock is quoting at Rs 1981.4, up 1.17% on the day. HDFC Bank Ltd is up 25.69% in last one year as compared to a 7.26% gain in NIFTY and a 13.62% gain in the Nifty Bank index.
The PE of the stock is 22.19 based on TTM earnings ending March 25.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Free water may soon be only for ‘poor' city areas
Free water may soon be only for ‘poor' city areas

Time of India

time18 minutes ago

  • Time of India

Free water may soon be only for ‘poor' city areas

New Delhi: Delhi govt is reviewing AAP govt's flagship free water scheme, which provides 20,000 litres of water each month to each household, highly placed govt sources said. The subsidy may soon be available only in low-income family areas, they said. The move is being considered for streamlining resource allocation and reducing the financial burden on Delhi Jal Board . If this comes through, residents of relatively affluent areas will have to pay for water usage based on actual billing. AAP govt had announced the free water scheme in Delhi in Jan 2014 for all households with functional water meters. Consumers who used more than 20,000 litres a month were billed according to the regular water tariff. A senior official said govt wanted to give subsidy benefits only to the needy and deny it to those who could easily afford it, with the aim of reducing DJB's losses. The board's losses had increased from Rs 344 crore in 2019-'20 to Rs 1,196.2 crore in 2021-'22, while its debt was more than Rs 73,000 crore. The losses have mounted since then. The sources said that while a final decision was yet to be taken, the exercise to determine low-income areas would rely on MCD's colony classifications for paying property tax. Delhi's residential areas are included in categories 'A' to 'H'. 'A' represents affluent neighbourhoods; 'H' denotes low-income areas. A senior official said that the scheme could be devised in such a way that upscale colonies might not receive subsidies at all while the less privileged ones would qualify for the benefit. The water utility might include additional criteria, such as property dimensions, in its assessment. However, for this to happen, DJB needs to fix its billing system. "The company that looks after the billing system has said it doesn't want to work with govt anymore. So, we are in the process of engaging a new company after which a final decision will be taken," said a source. In 2019, AAP govt had told the Delhi assembly that around 20,000 litres of free water was provided to each household each month by using nearly Rs 400 crore, benefiting 5.3 lakh consumers. This was in response to a monitoring committee telling National Green Tribunal that the scheme was being misused by several housing societies. "We have seen people installing multiple water meters in a house going by the number of floors so that they can use free water," said an official. "Some even wash their cars using potable water, which is a waste of limited resources." As of now, if more than 20,000 litres and up to 30,000 litres is consumed, Rs 220 is levied as service charge and Rs 26 charged per kilolitre. Those consuming more than 30,000 litres have to pay Rs 293 as service charge and Rs 44 per kilolitre. Get the latest lifestyle updates on Times of India, along with Eid wishes , messages , and quotes !

Midcaps, smallcaps may rally another 3–4% amid strong buying interest: Rajesh Palviya
Midcaps, smallcaps may rally another 3–4% amid strong buying interest: Rajesh Palviya

Economic Times

time19 minutes ago

  • Economic Times

Midcaps, smallcaps may rally another 3–4% amid strong buying interest: Rajesh Palviya

Tired of too many ads? Remove Ads ET Now: A big day for the market coming in. We have finally managed to break above that range that Nifty was stuck in. We have managed to touch the 25,000 levels. From here on, do you see now the bulls really take charge because we have managed to surpass these levels, it is a wait and watch whether we sustain it but what do you see on the technicals for the Nifty and Nifty Bank going ahead? ET Now: The largecaps have been stuck in a range. Of course, there were individual movers, but largely the largecaps were in a range. It was the SMIDs that were really giving an outperformance for now. Tell us on the charts how do you see the broader end of the market, the small and the midcaps moving ahead because they have been clearly outperforming. Do you see further up move in that area? Tired of too many ads? Remove Ads ET Now: Given the kind of market setup we have right now, help us understand which are your top picks at this point. Rajesh Palviya, Axis Securities, says midcap stocks are outperforming and this is likely to be there because when your benchmark indexes are holding at certain levels, so midcap and smallcap generally tend to move higher and this is what is exactly happening. Since last two-three-week, Nifty is consolidating in range after a have witnessed a consolidation of almost for a two-week in a range of 25,000 to 24,600. So, it was the consolidation range for last two weeks and today, we have almost reached the highest point of this consolidation range. Looking at the data, still call writers are there at 25,000 and 25,100 strikes. So, that may act as an immediate resistance for the Nifty. But looking at the broader market, the way the banking and financial have moved up and other sector like real estate and other capital goods stocks have also participated in this the way broader market has recovered in last couple of weeks, it clearly indicates that yes, there is a possibility that we may break above 25,100 and once this breakout happens, we could see a short covering action in Nifty and then rally can extend further towards 25,400 to 25,500 in the coming week. So, view is bullish. Buy on dips would be the strategy. 24,850 should be your stop loss to buy and accumulate in this range. For Bank Nifty, it is a clear breakout. Bank Nifty is now at a new all-time high trajectory. The way short covering has triggered post RBI policy, we could see another rally to extend in the coming week. 57,000 we are projecting a target for Bank Nifty in the continuation of this up move. Buy on dips again here also one can apply this strategy and keep your stop loss around 56,200 to hold and accumulate Bank Nifty midcap stocks are outperforming and this is likely to be there because when your benchmark indexes are holding at certain levels, so midcap and smallcap generally tend to move higher and this is what is exactly happening. Since last two-three-week, Nifty is consolidating in range after a rally. So, the major buying interest has been shifted to the midcap and smallcap and we have witnessed most of the midcap and smallcap space have done well and the kind of rally which we have unfolded in last two-three week, there could be another rally of 3% to 4% in this space in the coming yes, one should remain invested in this midcap and smallcap space and quality midcap and smallcap can do well and the way a breakout has happened on the near-term, short-term chart, that clearly shows that yes, buying interest is very much there in the midcap and smallcap space and we could see good traction going forward also. So, on index level 24,800 one needs to keep as a stop loss and if these levels are intact for some more time, so we could see another 2% to 3% kind of up move in midcap and smallcap stock ideas, both are on the buy side. First one is from the real estate space that is Oberoi Realty. The way stock has now managed to give breakout of the almost 8- to 10-week consolidation range and now stock is forming a rounding bottom sort of formation on a daily chart. Long built-up was there in the derivative looking at the overall setup for Oberoi Realty, we believe that this stock may extend its gain, possible target towards 1950 to 1960 in the coming week, one can keep a stop loss towards 1888 to buy Oberoi second stock that is from the healthcare space, Fortis Healthcare is looking very attractive. Stock is almost trading near to its all-time high trajectory. The way stock is moving in ups sloping channel on a weekly chart, that clearly indicates that there is a sustained buying action is happening in this counter. Looking at the breakout on daily chart, we believe that Fortis can extend its gain in the coming week, possible target towards 795, so one can buy this stock with stop loss of 748.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store