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Laughing all the way to the bank

As HDFC Bank’s stock price continues to rise, director Paresh Sukthankar offloads shares worth ₹9.86 crore

Soumik Kar

While some leading private and public sector banks continue to tread on a fiery path, HDFC Bank remains an exception. On April 21, HDFC Bank reported a record profit for March quarter with a 20% year-on-year growth while its asset quality also remained stable. Taking note of the bank’s positive results, investors are as buoyant about its prospects as ever. The stock price has risen from Rs.1,854 on January 1 to Rs.2,065 on May 15 which was a new high for the lender.

Riding the high, HDFC Bank deputy managing director Paresh Sukthankar offloaded 16 lakh shares worth Rs 9.86 crore on May 7 and 9. Similarly, Kaizad Bharucha, executive director,

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