๐ HDFC Bank Share Price Soars, Expected to Reach โน2,000 Soon ๐
Recent Surge in HDFC Bank Share Price
The stock market has been witnessing a significant uptrend in HDFC Bank shares in the past few days. Analysts predict that the HDFC Bank share price could touch the โน2,000 mark in the coming days. Domestic brokerage firm Prabhudas Lilladher has recommended buying the stock with a target price of โน2,000, indicating a potential return of over 30%. Currently, the price stands at โน1,534.95.
Analysts’ Recommendations
Prior to this, Motilal Oswal Financial Services had set a target price of โน1,950 for HDFC Bank shares. The stock witnessed a significant decline last month, falling to โน1,363.55. However, it has made a comeback in recent weeks, gaining 7.50% in a month. Despite this, there has been a nearly 10% drop in 2024.
Market Analysts’ Views
A total of 39 market analysts have given their recommendations on HDFC Bank shares. Out of these, 21 suggest a strong buy, while 14 have a buy rating. Four analysts recommend holding the stock, with none advising selling.
Ownership Changes
In the last quarter, promoters reduced their stake in HDFC Bank by 25.52%. Foreign institutional investors also decreased their shareholding from 52.30% to 47.83% compared to the previous quarter. On the other hand, domestic institutional investors increased their stake from 30.45% to 33.32%, while others hold 18.84%.
On Friday (12th April 2024), HDFC Bank shares were trading at โน1,517, down by 1.25%.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.