HDFC Ltd Stocks Reach All-Time High, Company’s M-Cap Crosses Rs 5 Lakh Crore
The stock market witnessed ups and downs today. Sometimes the market reached the red mark and sometimes it was seen trading in the green mark. However, this volatility was marginal and the Sensex closed in the green at the last moment. The Sensex gained 0.25% to close at 51,544.30 points at the last minute. At the same time, the Nifty lost 0.66% to close at 15,163.30 points. But today was a great day for HDFC Ltd (Mortgage Finance Company), the country’s largest mortgage finance company. Shares of HDFC Ltd closed 1.03% higher at Rs 2789 on the NSE today.
Stocks of HDFC Ltd gained momentum after opening with a fall and reached their all-time high of Rs 2809, which resulted in the company’s market capital (m-cap) exceeding Rs 5 lakh crore today. HDFC Ltd has become the 6th company in the country with an m-cap of over Rs 5 lakh crore.
Let us tell you that Reliance Industries (RIL) is at the top in terms of m-cap with market capital of more than Rs 13.2 lakh crore. At the same time, TCS is at number two with m-cap of Rs 12.05 lakh and HDFC Bank at number three with market capital of Rs 8.75 lakh. At the same time, Infosys is at number four and Hindustan Unilever Limited (HUL) is at number five.
Results of such company in the December quarter
HDFC Ltd performed as expected in the third quarter of FY 2020-21 and the company’s net profit stood at Rs 2930 crore. However, the company’s net profit declined by 65% over the same period last year. As of Q3 of this fiscal, the company’s net interest income grew by 25% to Rs 4000 crore and operating profit grew by 29% to Rs 4190 crore. The company’s loans grew by 9.3% on an annual basis and the total loan disbursed by the company stood at Rs 4.7 lakh crore. The company’s AUM i.e. assets under management grew by 9.3%. The company’s asset quality remained stable in Q3.
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