HDFC Bank shares trade flat after rising in previous session
The stock’s movement comes after HDFC Bank soared nearly 3% before close in the previous session following the bank’s move ahead with its CEO succession process
On Wednesday morning, HDFC Bank shares remained flat at ₹716 on the NSE, following a rise to ₹720.30 earlier in the day. The stock had closed at ₹716.55 the previous trading session. This flat performance follows HDFC Bank's 3% surge in the prior session, driven by the bank's decision to move forward with its CEO succession process.
The bank had submitted the names of two candidates to the Reserve Bank of India (RBI) for approval. Absolute returns for HDFC Bank stood at 4.18% for the week, while the stock declined 1.53% over the month. On a year-to-date basis, the stock fell 27.78%. The total traded volume was 119.42 lakh shares, with a traded value of ₹856.81 crore.
HDFC Bank's market capitalization was valued at ₹11.02 lakh crore at 11:40 am. The stock's adjusted P/E ratio was 13.78.
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