HDFC Bank Hits 52-Week High On Merger With HDFC

HDFC Bank witnessed a notable surge in its share price, climbing more than 2 per cent on 3 July, following the completion of its merger with parent company HDFC Ltd. This significant development marked a milestone for the private lender. 

Sashidhar Jagdishan, the CEO of HDFC Bank, expressed his optimism about the merged entity's potential. He emphasised that the bank's newly strengthened position enables it to create a new bank of its size every four years. This statement highlights the scale and growth opportunities presented by the merger, positioning HDFC Bank for further expansion and success in the banking sector.

As of 10.20 am, HDFC Bank's stock was trading at Rs 1,757.50 on the NSE, reflecting a 2 per cent increase from the previous close. This upward movement in share price indicates the positive market response to the completed merger and investors' confidence in the bank's future performance. The trading volumes during this time exceeded 10 million shares, further illustrating the market's active participation in HDFC Bank's stock.

Additionally, HDFC Ltd, the parent company of HDFC Bank, also experienced a 2.6 per cent surge in its stock price on the NSE, reaching Rs 2,925. This parallel increase in HDFC Ltd's share price demonstrates the positive impact of the merger on the overall financial performance and market perception of the HDFC group.