HDFC Bank Share Price Target 2024: Stock Zooms Over 3 pc; Time to BUY Ahead of Q4 Results?
HDFC Bank Share Price Target 2024, HDFC Bank Share Price News Today NSE BSE, HDFC Bank Share Price History: HDFC Bank share price climbed a whopping 3.21 per cent to hit an intraday high of Rs 1529.9 apiece on the National Stock Exchange (NSE), outperforming the sector by 1.42 per cent. The counter has been gaining for the last six days and has risen 6.61 per cent returns in the period. The scrip has been moving higher than 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages. The sharp movement was witnessed after the private sector lender on Thursday said its loan book crossed Rs 25 lakh crore in the fourth quarter ended March 2024. The bank’s gross advances aggregated to Rs 25.08 lakh crore as of March 31, 2024, a growth of 55.4 per cent over Rs 16.14 lakh crore as of March 31, 2023.
HDFC Bank Share Price Target 2024
American broking firm Goldman Sachs has a ‘BUY’ call on the banking heavyweight index, recommending a share price target of Rs 1915 per share. The analysts at the brokerage, said “the banks showed strong deposits with good-quality with improvement in the business mix.” “The focus has shifted to margins,” it added.
HDFC Bank Share Price News Today NSE BSE
A total of 17.86 lakh shares changed hands today of HDFC Bank which is a constituent of S&P BSE SENSEX index generating a total turnover of Rs 271.38 crore. The large cap banking company has a market cap of Rs 11,58,756.78 crore, as per BSE website. The shares of the company have a PE of 17.30x. In volume terms, over 395.49 lakh shares of the company were traded on the NSE during the day. At the time of filing this report the counter was trading at Rs 1,524.80 a share, up 2.87 per cent. On the BSE, the scrip touched an intraday high of Rs 1529.55 apiece.
HDFC Bank Share Price History
HDFC bank delivered negative returns of 7.80 per cent in the last one year. In the last 30 days, it endured northbound journey to deliver 6.43 per cent returns.
HDFC Bank Q4 Quarterly Results/Earnings Update News
HDFC Bank quarterly Q4 Results will be announced on 20 April post the market hours.
Domestic retail loans grew around 109 per cent over March 31, 2023 and around 3.7 per cent over December 31, 2023. The bank’s commercial and rural banking loans grew 24.6 per cent over March 31, 2023 and around 4.2 per cent over December 31, 2023, it said The corporate and other wholesale loans, excluding non-individual loans of the erstwhile HDFC Ltd, grew around 4.1 per cent over March 31, 2023. The bank’s deposits aggregated to Rs 23.8 lakh crore as of March 31, 2024, a year-on-year growth of around 26.4 per cent over Rs 18.83 lakh crore and of around 7.5 per cent over Rs 22.10 lakh crore as of December 31, 2023.
“Retail deposits grew by around 27.8 per cent over March 31, 2023 and around 6.9 per cent (Rs 1.2 lakh crore) over December 31, 2023; wholesale deposits grew by around 19.4 per cent over March 31, 2023 and around 10.9 per cent (Rs 38,000 crore) over December 31, 2023,” it said.
Current Account Saving Account (CASA) deposits aggregated to approximately Rs 9 lakh crore as of March 31, 2024, a growth of around 8.7 per cent over the year-ago period.
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