HDFC Bank shares slip post Q2 business update

Shares of HDFC Bank Ltd opened in red on Friday after the private lender shared its Q2 business updates. The counter opened in red at Rs 1,668.95 against the previous close of Rs 1682.15 on the BSE. Last seen, the counter was trading at Rs 1,680.

The private lender said its gross advances grew 7 per cent for the September quarter, while deposits were up 15.1 year-on-year (YoY) for the same period. 

HDFC Bank's total advances under management, which include loans securitised or sold, stood at Rs 26.34 lakh crore by the end of September 2024.

Sequentially, advances grew 2.3 per cent over Rs 25,75,000 crore as of June 30, the most-valued private bank said on Friday.

Meanwhile, Morgan Stanley and Citigroup on Thursday bought shares of private sector lender HDFC Bank for over Rs 755 crore through open market transactions.

According to the block deal data available on the BSE, New York-headquartered financial services companies Morgan Stanley and Citigroup through their affiliates purchased 43.75 lakh shares of the Mumbai-based bank.

The shares were picked up at an average price of Rs 1,726.2 apiece, taking the combined transaction value to Rs 755.29 crore.

According to exchange data, BNP Paribas' arm BNP Paribas Financial Markets divested the same number of shares through two separate block deals at Rs 1,726.2 apiece on the BSE.

BNP Paribas is an investment bank and financial services company.

Last week, Paris-based BNP Paribas offloaded shares of HDFC Bank for Rs 543.27 crore.

With PTI inputs