Friday , October 22 2021

HDFC Bank jumps on planning to double rural reach

HDFC Bank is currently trading at Rs. 1626.00, up by 24.65 points or 1.54% from its previous closing of Rs. 1601.35 on the BSE.

The scrip opened at Rs. 1614.05 and has touched a high and low of Rs. 1635.60 and Rs. 1610.15 respectively. So far 189847 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 1650.00 on 24-Feb-2021 and a 52 week low of Rs. 1026.25 on 25-Sep-2020.

Last one week high and low of the scrip stood at Rs. 1635.60 and Rs. 1528.70 respectively. The current market cap of the company is Rs. 900943.42 crore.

The promoters holding in the company stood at 25.89%, while Institutions and Non-Institutions held 61.01% and 13.10% respectively.

HDFC Bank is planning to double its rural reach to two lakh villages, which will see it hire 2,500 people in the next six months. The bank also aims to double its presence in the next 18-24 months through a combination of branch network, business correspondence, business facilitators, CSC (common service centers) partners, virtual relationship management, and digital outreach platforms. After the expansion, the bank’s reach will increase to a third of the villages in the country.

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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