HDFC twins rally up to 3% on Q2 business update

Shares of mortgage lender and private lender rose up to 3% in Tuesday’s trade after merger-bound companies posted their September quarter business update.

At 1.26 pm, the stocks of HDFC were trading 2.94% higher at Rs 2,350 per share over its previous day’s closing price of Rs 2282.95 apiece. At the same time, HDFC Bank shares were trading 2.71% higher at Rs 1,451.1 per share over its last day’s closing price of Rs 1412.85.

“During the quarter ended September 30, 2022, the corporation assigned loans amounting to Rs 9,145 crore compared to Rs 7,132 crore in the corresponding quarter of the previous year,” HDFC said in a BSE filing.

“Individual loans sold in the preceding 12 months amounted to Rs 34,513 crore. Gross income from the dividend for the quarter ended September 30, 2022, was Rs 1,360 crore,” It said.

On the other hand, HDFC Bank said in a BSE filing that the bank’s deposits aggregated to approximately Rs 16.73 lakh crore as of September 30, 2022, a growth of around 19.0% over Rs 14.06 lakh crore as of September 30, 2021.

The bank’s advances aggregated to approximately Rs 14.8 lakh crore as of September 30, 2022, a growth of around 23.5% over Rs 11.98 lakh crore as of September 30, 2021, and a growth of around 6.1% over Rs 13.95 lakh crore as of June 30, 2022, it added.

The bank’s CASA deposits aggregated to approximately Rs 7.5 lakh crore as of September 30, 2022, a growth of around 15.4% over Rs 6.5 lakh crore as of September 30, 2021. The bank’s CASA ratio stood at around 45% in the second quarter of 2022, as compared to 46.8% as of the September quarter of 2021, HDFC Bank said.