Hdfc Bank Shares Slip 2% After Hitting Fresh Record High; Here's What Analysts Say

Shares of HDFC Bank Ltd roseate 0.82 per cent successful Wednesday's intraday waste and acquisition to deed an all-time precocious of Rs 1,977.95. The banal yet settled 1.98 per cent little astatine Rs 1,923.10 arsenic nan convention approached closure. At this closing price, HDFC Bank has climbed 10.80 per cent successful nan past six months.

On nan net front, nan country's largest backstage lender reported a nett profit of Rs 17,616 crore, marking a year-on-year (YoY) maturation of 6.7 per cent for nan March 2025 quarter. HDFC Bank's nett liking income (NII) besides saw an summation of 10.3 per cent YoY, astatine Rs 32,070 crore.

"Investors pinch a semipermanent position tin bargain this stock. Those holding should proceed pinch their positions arsenic banks are better-positioned to return advantage of nan existent marketplace growth," said Kranthi Bathini, Director of Equity Strategy astatine WealthMills Securities.

Technically, an expert said nan antagonistic witnessed profit booking coming and advised marketplace participants to hold for Rs 1,860–1,830 levels for caller accumulation.

"HDFC Bank witnessed immoderate profit booking aft caller highs. The banal has precocious seen a crisp rally but existent method indicators propose that momentum whitethorn beryllium cooling off. Investors are advised to hold for a retracement towards nan Rs 1,860–1,830 zone, which offers a favourable risk-reward setup. This area whitethorn enactment arsenic a beardown support for caller accumulation, provided that nan broader marketplace sentiment remains stable," said Ameya Ranadive, CMT, CFTe, Senior Technical Analyst astatine StoxBox.

"Support will beryllium astatine Rs 1,900 and guidance astatine Rs 1,980. A decisive move supra Rs 1,980 level whitethorn trigger a further upside of Rs 2,060. The expected trading scope will beryllium betwixt Rs 1,875 and Rs 2,060 for nan short term," said Jigar S Patel, Senior Manager - Technical Research Analyst astatine Anand Rathi.

The scrip traded higher than nan 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day elemental moving averages (SMAs). Its 14-day comparative spot scale (RSI) came astatine 66.49. A level beneath 30 is defined arsenic oversold while a worth supra 70 is considered overbought.

As per BSE, nan banal has a price-to-earnings (P/E) ratio of 22.21 against a price-to-book (P/B) worth of 3.20. Earnings per stock (EPS) stood astatine 86.57 pinch a return connected equity (RoE) of 14.39. According to Trendlyne data, HDFC Bank has a one-year beta of 0.9, indicating debased volatility.

Published on: Apr 23, 2025 8:25 PM IST