HDFC Bank shares gain 3% post Q1; should you buy, hold, or sell the banking stock?
Most brokerages have maintained ‘Buy’ ratings on HDFC Bank, projecting target price to be in the range of ₹1,850 to ₹2,000.
Most brokerages have maintained ‘Buy’ ratings on HDFC Bank, projecting target price to be in the range of ₹1,850 to ₹2,000.
Analysts at CLSA expect HDFC Bank's net interest margin (NIM) recovery to be more U-shaped rather than V-shaped.
LIC of India will become the largest shareholder in HDFC Bank after the acquisition of an additional 4.8% shares in the lender, raising its holding stake to 9.99%.
The private sector lender’s U.S.-listed ADR dropped 6.71% to $61.18 in the New York Stock Exchange.
Shares of HDFC were delisted from stock exchanges today, ending its 4-decade long journey on bourses, and started trading under HDFC Bank ticker.
The merged entity’s gross advances grew 13.1% YoY to ₹22.45 lakh crore, while deposits rose 16.2% YoY to ₹20.63 lakh crore.
The HDFC twins have been rising for the last four sessions and gained up to 7.5% each during the same period.
Early today, the company's share price opened higher at ₹1,706 as against the closing price of the previous session at ₹1,693.30.
The private lender’s advances and deposits grew by 16.9% and 20.8%, respectively, in Q4 FY23 as compared to the same period last year.
HDFC Bank shares have gained 7.4% in the last six trading days, hitting a 9-month high of ₹1,702 intraday today.