HDFCBANK
HDFC BANK LTD
LTP
Rs 721.2
52W Range
Rs 681.9 - Rs 1,020.5
Trend
neutral
RSI
49.3
P/E
15.77
MACD
-0.40 / -0.86
Fundamentals
- Growth
- Q1 FY27 net profit +4.98%, NII +6.7%; average deposits +13.3%, average gross advances +13.4%; leveraging AI, cross-selling synergies, rural expansion; FY27 credit growth forecast 15%, deposit growth 13.6%.
- Valuation
- Trades at ~26% discount to ICICI Bank (P/B), ~6% discount to Kotak Mahindra Bank, and nearly 30% below its 52-week high of ₹1,020.35.
Technicals
- Trend
- Medium-term falling trend channel, stock below all major moving averages, broke support at ₹743 (rectangle formation) signaling potential fall to ₹665.
- Momentum
- RSI is neutral at 49.3-51.241; MACD is neutral at 0.026.
- Key levels
- Immediate pivot ₹717.22; resistance at ₹728.19, ₹733.67, ₹744.64, and ₹737; support at ₹711.74, ₹700.77, and ₹695.29.
Sentiment
- News
- RBI approval of Anup Bagchi as new MD & CEO on Oct 1, 2026, brought clarity and positive market reaction (ADRs +5%, domestic stock +1.76%); turbulent year due to leadership changes and post-merger challenges.
- Brokerage
- Jefferies maintained 'Buy' (target ₹880); Motilal Oswal 'Buy' (target ₹925); UBS 'Buy' (target ₹1,000); Bernstein 'Outperform' (target ₹1,150); Morgan Stanley 'Overweight' (target ₹1,025); Nuvama 'Buy' (target ₹875, cut from ₹1,025); HSBC downgraded ADRs to 'Hold' (target $26.10).
Entry & Exit
- Fundamental
- Supports entry due to deep valuation discount and strong long-term growth prospects despite governance risks and execution challenges.
- Technical / Sentiment
- Wait for clearer signals; technicals show a falling trend and broken support, but positive sentiment from new CEO appointment and brokerage targets suggest potential for rebound.
Target
- Jefferies
- ₹880 · ~2 years (based on Sept 2028 book value) · ~20% upside
- Motilal Oswal
- ₹925 · Long-term (anticipating improved FY28) · ~28% upside
- UBS
- ₹1,000 · Unspecified · 39% upside
- Bernstein
- ₹1,150 · Unspecified · 60% upside
- Morgan Stanley
- ₹1,025 · Unspecified · Deep value
- Nuvama
- ₹875 · Unspecified · Unspecified upside
- HSBC
- $26.10 (ADR) · Unspecified · Unspecified
- Analyst Consensus (11 analysts)
- ₹972.30 · Unspecified · 34.82% upside
HOLD
While technicals are weak and risks exist, the stock offers deep value, strong growth prospects, and a positive catalyst from new leadership, justifying a hold for potential long-term recovery.