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Friday, April 25, 2008

HDFC Bank saw accumulation on higher earnings


HDFC Bank shares climbed on Friday after it reported a 37 per cent
increase in net profit at Rs 471 crore for the quarter ended March
2008, against Rs 344 core in the corresponding quarter last year, on
higher income.

The bank's board of directors has recommended a dividend of 85 per
cent for FY 2007-08, against 70 per cent last year. The dividend
announcement also aided the positive sentiment for the stock today. At
11.50 am, the stock gained Rs 27 to Rs 1,472.25 on the BSE.

 


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