new Delhi. Share Market: Shares of HDFC Bank (HDFC Bank Share) have fallen 23 percent from their highest level since October so far. Market analysts are now advising to buy this stock after such a fall. They believe that the stock of HDFC can go up 55 percent from the current levels.
Motilal Oswal, MK Global and JM Financial believe that this stock will perform well in the coming days and will bring profits to the investors. Brokerage firms believe that the bank is strengthening its hold in semi-urban and rural areas.
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According to an ET report, 45 analysts have fixed an average target price of Rs 1937.64 for HDFC Bank shares. Accordingly, the shares of HDFC Bank are expected to rise by 46%. On Wednesday, HDFC Bank shares closed at Rs 1371.05 (HDFC Share Price), up 3.26%.
here’s a guess
Brokerage firm Motilal Oswal says that HDFC Bank has performed well in retail loan growth. Apart from this, the performance of the bank in the commercial banking sector is also commendable. Operating profit, including margins and provisioning, have improved on improved NII growth. These indicate that the bank is now moving towards a position to deliver better results. The bank is making its inroads in the semi rural and rural areas. Apart from this, HDFC Bank is fast becoming the largest lender in MSME financing.
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Motilal Oswal has given the target price of HDFC Bank stock (HDFC Bank Stock Target Price) at Rs 2000. On the other hand, Emkay Glogbal believes that the selling of Foreign Institutional Investors (FIIs) has weakened the shares of HDFC Bank. Selling has increased due to weak digital initiatives of the bank and concerns about margin fees. Emkay Glogbal has given a price target of Rs 2050 for HDFC Shares. Another brokerage firm JM Financial has fixed the target price of this stock at 1950.
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Tags: hdfc bank, Share market
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