A stock named 'HDFC Bank' listed on NSE (India's stock exchange) has shown an increase in shares outstanding and floating stock outstanding YoY. How? enter image description here

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    $\begingroup$ Please clarify your specific problem or provide additional details to highlight exactly what you need. As it's currently written, it's hard to tell exactly what you're asking. $\endgroup$
    – Giskard
    Commented Jun 5, 2022 at 9:06
  • $\begingroup$ Both floating (4.03-4.27-4.34) and outstanding shares(5.13-5.45-5.51) are increasing. How is that fundamentally possible, since the company didn't issue any new shares. $\endgroup$
    – Arpan
    Commented Jun 6, 2022 at 10:47

1 Answer 1


Wanted to comment, but its too long with the links.

I think it's simply due to ESOPs.

For the effect on shares outstanding, see for example Knowledge at Wharton - A business journal from the Wharton School of the University of Pennsylvania.

If a company had one million shares outstanding and employees exercised options to purchase 200,000 shares, there would then be 1.2 million shares outstanding.

Since float is always a portion of shares outstanding, both numbers go up.

On a side note, I am not sure if this question is well suited for economics but I am not sure Money SE or Quant SE would be much better suited either.


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