HDFC Bank rallies 7% in six days; stock inches towards all-time high

The management said the final hearing of NCLT, regarding the merger with HDFC, would take place on January 27, 2023, post which regulatory process will remain to be undertaken.

Shares of HDFC Bank hit nine-month high at Rs 1,702, gaining 2 per cent on the BSE in Tuesday’s intra-day trade. The stock of the largest private sector lender quoted higher for the sixth straight trading session, gaining 7 per cent during the period.

HDFC Bank trading at its highest level since April 2022, and inches towards its all-time high of Rs 1,724 touched on October 18, 2021. In comparison, the S&P BSE Sensex was up 0.50 per cent at 61,238 at 09:42 AM.

On April 4, 2022, the HDFC Bank and Housing Development Finance Corporation (HDFC) Limited