HDFC Bank Stock Dips Despite Good Q4 Numbers

HDFC BankHDFC Bank declined 1.15% to Rs 1154.70 in afternoon trading in spite of reporting 34.24% increase in net profit in Q1 June 2007.
The quarterly outcomes were declared during the market hours today 10 July 2007.

The scrip hit an intraday high of Rs 1185.95 and an intraday low of Rs 1145.60 during the day. On 28 May 2007, it has had its 52 week high of Rs 1274 and a 52 week low of Rs 693.10 on 19 July 2006.

Over the last one month to 9 July 2007, HDFC Bank stock mounted 7.06% as against the Sensex’s return of 6.98%. The scrip had outperformed the whole market over the past quarter, climbing 17.77% as compared to the Sensex’s growth of 14.07%.

The share price had risen from Rs 1090.70 on 27 June 2007 to Rs 1150.55 on 3 July 2007. It declined to Rs 1129.65 on 5 July 2007 before rising to Rs 1168.10 on 9 July 2007.

Today, there were 89,693 shares for trading on the counter. In the past one quarter, the scrip had an average daily volume of 1.43 lakh shares. The company’s present equity is Rs 333.19 crore, with 33.319 crore outstanding shares of a face value of Rs 10.

The current market price of Rs 1154.7 discounts its FY 2007 EPS of Rs 35.74, by a PE multiple of 32.30.

In Q1 June 2007, HDFC Bank’s net profit climbed 34.24% to Rs 321.23 crore as against Rs 239.30 crore in Q1 June 2006. Total operating income rose 41.32% to Rs 2125.88 crore in Q1 June 2007 as against Rs 1504.29 crore in Q1 June 2006.