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HDFC bank’s m-cap last breached the Rs 14 lakh crore mark on November 28 during intraday trade, before the stock settled below Rs 1,800
HDFC Bank Share Price
In a significant block deal on Tuesday, 21.7 lakh shares of HDFC Bank were sold, according to Bloomberg. This transaction led to a rise in the bank’s market capitalization, surpassing Rs 14 lakh crore during morning trading, with shares increasing by as much as 2% to Rs 1,837 on the BSE.
Although the identities of the buyers and sellers remain undisclosed, the deal is valued at approximately Rs 392 crore, based on the previous day’s closing price of Rs 1,804.55.
HDFC Bank’s stock also gained 1.5% on the NSE, reaching Rs 1,832 on Tuesday morning. Over the past year, the stock has risen around 14%, lagging behind the NSE Nifty 50, which has climbed by about 18%.
Earlier, on November 25, HDFC Bank’s stock surged above Rs 1,800, hitting an all-time high amid a spike in trading volumes following the MSCI November rebalancing. More than 21.5 crore shares of the bank were traded across the NSE and BSE on that day, nearly 8.6 times its 20-day moving average of 2.5 crore shares.
The rebalancing, which increased HDFC Bank’s weight in the index, was expected to attract $1.88 billion in passive inflows, boosting the stock’s performance. This momentum continued into late November, with the stock reaching a peak of Rs 1,836.1.
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