HDFC Bank Reports ₹16,821 Crore Profit: Will Shares Surge on Monday? - Everything You Need To Know 

HDFC Bank recently announced its sensational quarterly numbers, netting ₹16,821 crore for the July-September 2024 period. The bank's quarterly net profit is 5.3% more than the ₹15,976 crore fetched in the same quarter the previous year. As per these high numbers, market analysts are casting a positive prediction on Monday for an upward trend of HDFC Bank shares.

The net interest income of the bank rose 10% to ₹30,114 crore versus ₹27,385 crore in the previous year. Up to now, this has been good times for HDFC Bank with a strong performance showing when banking stocks themselves are not really perking up much.

Total income for HDFC Bank has now risen to ₹85,500 crore in the September quarter, while a year ago, it had stood at ₹78,406 crore. The bank's interest income too surged to ₹74,017 crore during this period, with growth being seen in both deposits and loan disbursements.

Gross NPAs at 1.36% and net NPAs at 0.41%, despite a mild increase in NPAs, the overall outlook for HDFC Bank remains positive. Meanwhile, Kotak Mahindra Bank also was able to record an increase of 5% YoY in its profit after tax, thereby reflecting a stable setting in the banking sector.

As HDFC Bank records its results, these will have an impact on market trends, with many people hoping this comes as a rally in the banking stocks. Therefore, the upcoming week will be very important for HDFC Bank as it looks to ride on that positive momentum.

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