Three Private banking stocks that touched their all time highs on Thursday

Even as markets corrected on Thursday taking cues from global markets and some profit booking by traders , three private banking stocks with outstanding results managed to hit all time high levels in terms of their stock prices. HDFC Bank , IndusInd Bank and Yes Bank, all three private banks managed to climb higher and trade at unprecedented prices on a day when Sensex (benchmark Index) traded down by  461 points,  almost 2 percent down on an intra day basis.

HDFC Bank is up by 4  percent , IndusInd Bank by 6  percent and Yes Bank is up by almost 8  percent in last 5 trading sessions, reflecting the earnings declaration for these stocks. The continuous buying in these stocks led to the stocks hitting 52 week high and also all time highs for these stocks. Good results declared by these three private banks led to aggressive buying in them. Also there are news reports that IndusInd Bank may be included in the MSCI India Index creating further buying interest in the stock. 

HDFC bank in its quarterly results i.e Q4FY16 posted a decent 20 percent growth in profits and a healthy growth of 24 percent in net interest margins on QoQ basis. IndusInd Bank delivered another impressive set of results with the increase in profits reported to have grown by 25 percent YoY and net interest margins grew by a whopping 37 percent YoY. For Yes bank the growth in Net profit was declared at 27.4 percent on YoY basis and the growth in net interest margin was declared at 27.1 percent, YoY basis. 

HDFC Bank touched an intraday high of 1137, marking an all time high. IndusInd Bank traded at 1049 thus marking a new all time high for itself and Yes Bank traded at 952 on an intraday basis to mark a new high for itself.  Yes bank traded up by almost 3.4 percent on thursday; while after rallying upward on an intra day basis HDFC Bank and Indusind Bank traded in negative zone . Investors can track this pack of three, for some out-performance in the banking sector in the coming quarters.