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HDFC Bank edges higher on planning to set up 200 branches in north-east region

HDFC Bank is currently trading at Rs. 1262.20, up by 4.20 points or 0.33% from its previous closing of Rs. 1258.00 on the BSE.

The scrip opened at Rs. 1259.50 and has touched a high and low of Rs. 1264.85 and Rs. 1257.00 respectively. So far 14207 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 1285.00 on 23-Sep-2019 and a 52 week low of Rs. 968.00 on 14-Nov-2018.

Last one week high and low of the scrip stood at Rs. 1269.75 and Rs. 1251.00 respectively. The current market cap of the company is Rs. 691384.89 crore.

The promoters holding in the company stood at 26.21%, while Institutions and Non-Institutions held 58.90% and 14.89% respectively.

HDFC Bank is planning to increase its headcount by 50 percent to 6,000 employees in the north-east (NE) region in the next 2-3 years to meet the growing demand and cater to its network expansion plans. The Bank currently has 136 branches spread across the region and its plan is to take this number to 200 in the next 2-3 years. Out of 6,000, the bank will hire around 1,500 people in the next one year in Assam as the bank plans to increase the number of its branches from 72 to 100 in the state.

HDFC Bank is one of India’s premier banks providing a wide range of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.

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