Banking Stock That Can Soar 22%, Buy Call Assigned: Nirmal Bang

Nirmal Bang has assigned buy call to HDFC Bank with target price of Rs 1958 apiece. Current market price of the stock is Rs 1606.15 apiece. If you buy HDFC Bank share now, you can fetch potential upside of 22%. Check details below:

HDFC Bank Stock Performance & Details: Last trading price of HDFC Bank stock is Rs 1606.15 per share with intraday jump of 0.13%. The stock's 52-week high price is Rs 1733.95 per share and 52-week low price is Rs 1271.75 per share, respectively. The banking stock has a market capitalisation of Rs 8,97,722.23 crore. HDFC Bank shares have given investors return of 16% in last 1-year, 7% in last 2-years, and 60% in last 3-years.

HDFC Bank Valuation: According to Nirmal Bang, "The management indicated that the bank's margin may be impacted by the merger transition, but it is confident of sustaining RoA ~1.9-2%. We continue to remain positive about HDFC Bank and maintain BUY with a target price (TP) of Rs1,958."

HDFC Bank About: HDFC Bank is one of India's leading private banks and was among the first to receive approval from the Reserve Bank of India (RBI) to set up a private sector bank in 1994. As of March 31, 2023, the Bank had a nationwide distribution network of 7,821 branches and 19,727 ATMs / Cash Deposit & Withdrawal Machines (CDMs) across 3,811 cities / towns, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Nirmal Bang. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.