HDFC Bank share price: The stock rose 1.71 per cent to hit a day high of Rs 1,554. At this price, it has moved 8.91 per cent higher in seven trading sessions.
HDFC Bank s stock surged by 2.63% to close at ₹1,454 apiece. The rally was attributed to the bank s focus on profitability and earnings per share growth over loan growth. This strong rally has also propelled the benchmark Nifty 50 to reach another record milestone of 22,215 points.
Notwithstanding the recent fall, HDFC Bank’s strong franchise, synergies post the merger, and long runway for growth, could make it a good stock to add to your 2024 watchlist
While earnings by the country s biggest private sector lender remained a concern, global brokerage CLSA has reiterated its ‘buy’ rating on the stock with a target of ₹2,025 per share, implying an upside of almost 38 percent.