Brokerages have unanimously raised the target price for HDFC Bank shares after the lender reported better than expected results for the July-September quarter (Q2) of 2024-25 (FY25). Analysts now estimate a one-year target price for HDFC Bank between ₹1,900 and ₹2,150, implying a maximum upside of 24.6 per cent from current levels.
“The Q2FY25 results of HDFC Bank bore a resemblance to the bank's pre-Covid earnings, where earnings delivered no surprises, negative or positive. With near-flat margins and improved credit costs, the lender appeared immune to sector-wide troubles,” analysts at Bernstein reportedly said.
They maintained their 'outperform' rating on the stock, with a target price of ₹2,100. On the bourses, HDFC Bank's share price rallied 3.9 per cent to an intraday high of ₹1,748.15 per share on the National Stock Exchange (NSE). However, by the close, the stock pared some gains to end at ₹1,725, up 2.57 per cent, against a 0.29 per cent fall in the benchmark NSE Nifty 50.
A stable quarter
On Saturday, India's largest private lender, HDFC Bank, reported a 5.3 per
هذه القصة مأخوذة من طبعة October 22, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة October 22, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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