HDFC Bank is one of the largest banks in India. Before a few months, the HDFC Bank stock crashed from near its all-time high very badly due to unexpected bad quarterly results. Currently for the short-term and long-term HDFC Bank’s share price target 2024, 2025, and 2026 is good.
As of now, HDFC Bank stock recovered from the crash and again went to near its all-time high. As of 22 July 2024, HDFC Bank stock is trading near Rs. 1642. If you missed the rally in the HDFC Bank stock then check the analysis and there can be an opportunity for you to generate some profit from the stock.
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About HDFC Bank
HDFC Bank is India’s largest private sector bank; in the banking sector, it is the second largest bank after SBI (State Bank of India). The bank was founded in 1984. Mr. Sashidhar Jagdishan is the current CEO and Managing Director.
HDFC Ltd was the largest housing finance company in India, in July 2023 the company merged with HDFC Bank Ltd. The HDFC Bank officials expected that by merging HDFC Ltd with HDFC Bank, major growth will be seen in the future.
HDFC Bank is involved in the following business-
Loans
HDFC Bank offers many types of loans to retailers and businesses based on their needs and some types of loans are home loans, personal loans, gold loans, two-wheeler loans, car loans, loans against securities, and more…
Insurance
The bank offers health insurance, life insurance, and many other insurances in the insurance business.
Accounts & Deposits
HDFC Bank provides various types of accounts to businesses and retailers based on their needs like salary accounts, saving accounts, senior citizen accounts, current accounts, children accounts, and more…
In Deposits, HDFC Bank offers fixed deposits and recurring deposit services for money saving and earning some interest on the deposited money.
Digital Banking Services
HDFC Bank offers almost all types of digital banking services needed in day-to-day life. Some services include checking account balance, paying bills, transferring money, and more.
Other Services
There are a lot of services that the HDFC Bank offers to its customers. Some popular services are as follows-
- Cards
- Lockers
- Mutual Funds
- Mobile Banking
- Demat Accounts
- and many more services…
HDFC Bank’s Scrip Info
| NSE | HDFCBANK |
| BSE | 500180 |
| ISIN | INE040A01034 |
| SECTOR | Banks |
Company Analysis
Below you’ll find HDFC Bank Limited’s company information like financials, fundamentals, and shareholding patterns. This information plays an important role in identifying good companies for investing.
Note: The shared information is not enough for a complete analysis of any company or stock. Kindly cross-check this information with any screener or broker.
Note: All the values are in (₹) Rupees Crore.
| Quarter | Net Profit & Loss |
|---|---|
| Jun 2023 | ₹12,403 |
| Sep 2023 | ₹17,312 |
| Dec 2023 | ₹17,718 |
| Mar 2024 | ₹18,013 |
| Jun 2024 | ₹17,188 |
| Year | Net Profit & Loss |
|---|---|
| Mar 2020 | ₹27,296 |
| Mar 2021 | ₹31,857 |
| Mar 2022 | ₹38,151 |
| Mar 2023 | ₹46,149 |
| Mar 2024 | ₹65,446 |
Note: It is the company’s financial performance data, typically released every three months (quarterly) or once a year (annually).
| Market Cap | ₹11,46,594 | ROE | 14.12% |
| P/E Ratio (TTM) | 17.90 | EPS (TTM) | 84.25 |
| P/B Ratio | 2.53 | Div. Yield | 1.29% |
| Industry PE | 14.07 | Book Value | 596.70 |
| Debt to Equity | NA | Face Value | 1 |
| Held By | Dec 2023 | Mar 2024 | Jun 2024 |
|---|---|---|---|
| FIIs | 52.31% | 47.83% | 47.17% |
| DIIs | 30.54% | 33.33% | 35.20% |
| Public | 16.98% | 18.64% | 17.44% |
| Promoters | 0.00% | 0.00% | 0.00% |
| Other Holders | 0.17% | 0.18% | 0.18% |
Key Insights
- The bank is almost debt-free.
- The bank is making a profit consistently.
- The bank is growing above the industry median.
- Annually the earnings of the bank are increasing.
- The net interest margins of the bank are not stable.
- HDFC Bank’s last 3 to 4 quarters’ profit is almost flat.
- Analysts are rating “buy” the bank with a 20% to 30% upside.
- The profit margins of the bank are above the industry median.
- In the Jun 2024 quarter, FIIs decreased their holdings by 0.66%.
- In the Sep 2023 quarter, the HDFC Bank’s promoters sold all their holdings. Currently, 0 promoters are holding.
- In the March 2024 FY, the bank has shown a net profit of Rs. 65,446 Crore which is a huge jump as compared to its previous FYs. It is because of the HDFC Ltd and HDFC Bank Ltd merger.
HDFC Bank Share Price Target
The HDFC Bank stock is trading near Rs. 1642 as of 22 July 2024. It is a good level for investing in the stock for the short term to the long term. In the short term, the stock may give easily 5% to 10% return. In the long term like 2 to 3 years, the stock can give 20% to 25% return easily.
From the last 2 to 3 quarters, retailers and DIIs have increased their holdings in the stock very rapidly. Analysts and brokers also upgraded their ratings from the last 2 quarters and expect a good move in the HDFC Bank stock soon. From the average given buy price, the stock is already trading 5% to 10% upside.
| Year | Minimum Target | Maximum Target |
|---|---|---|
| 2024 | ₹1700 | ₹1750 |
| 2025 | ₹2100 | ₹2200 |
| 2026 | ₹2400 | ₹2500 |
Disclaimer: We are not SEBI registered, this post is only for educational purposes. We give the stock price targets based on analysts’ research, news, price action, etc. Please do research or talk to your financial advisor before making any decision.
HDFC Bank Share Price Target 2024
HDFC Bank stock is very bullish as of now and the HDFC Bank share price target for 2024 is also attractive as there is very little chance of risk. This is because the HDFC Bank stock price has already corrected a lot and still it is available at a discount.
As per technical analysis, this is the last chance to get the stock at a discounted price as it can start going up soon. Already millions of retail investors invested in the stock at discounted prices.
After the March 2024 HDFC Bank’s quarterly results, many analysts and brokers rated “buy” the stock with an average target of Rs. 1900 to Rs. 2000. They gave the target for 1 year not only for the year 2024. But in the year 2024, the stock can reach nearly Rs. 1700 to Rs. 1720 smoothly.
The short-term HDFC Bank share price target can be affected by the July 2024 budget. If the market crashes then HDFC Bank may break its Rs. 1600 support. Once the support is broken the stock may fall badly. So, trade the stock with a stop loss otherwise avoided it.
HDFC Bank Share Price Target 2025
Analysts and brokers updated their HDFC Bank’s ratings based on the March 2024 quarterly results. Some brokers also give targets of more than Rs. 2000 in 1 year.
The broker’s and analysts’ ratings and their target price changes based on the HDFC Bank’s earnings, profits, industry growth, economic conditions, etc. Per their current analysis, the HDFC Bank share price target for 2025 is Rs. 2100 to Rs. 2200. Also, we suggest the same targets because the large companies’ stock does not move very fast like other stocks.
HDFC Bank Share Price Target 2026
As mentioned above, the HDFC Bank stock is good for short-term and long-term investing. It is good for long-term investing because it is available at a highly discounted price, PE ratio near to 52-week low, improving earnings, brokers rated buy the stock, and many more.
There are very high chance that from 2024 to 2025 the HDFC Bank stock can go from Rs. 2000 to Rs. 2100 smoothly. In 2026 it is expected that the HDFC Bank share price target can easily cross Rs. 2400 to 2500. That’s why as of now it is one of the best stocks for long-term investing.
HDFC Bank’s Forecast & Rating
As of May 2024, more than 90% of analysts are bullish on the stock and rated to “buy” the stock. There are many brokers given a buy rating and the target for the HDFC Bank stock for 1 year.
HDFC Bank’s Current Stock Price: Rs. 1531 (As of 1 June)
- Minimum Estimated Target: Rs. 1620.00
- Average Estimated Target: Rs. 1869.00
- Maximum Estimated Target: Rs. 2400.70
Brokers’ Targets
- Sharekhan – Rs. 1900
- KRChoksey – Rs. 1714
- Motilal Oswal – Rs. 1950
- ICICI Securities – Rs. 1850
- Prabhudas Lilladher – Rs. 2000
- LKP Securities Limited – Rs. 1756
- Religare Retail Research – Rs. 2010
- Emkay Global Financial Services – Rs. 2000
- and many more targets…
FAQs
As of 1 June 2024, the HDFC Bank stock is trading near Rs. 1531 and its share price target for 1 year is Rs. 1850 to Rs. 2400. There are very high chance that the stock can reach Rs. 1700 to Rs. 1750 by 2024 and in 2024 it can cross Rs. 2000.
In a few words, if you are looking for a low-risk stock for short-term to long-term investing then HDFC Bank is a good stock at the current level.
Analysts’ and brokers’ rating changes almost every quarter based on the quarterly results. Currently, the analysts and brokers are bullish on the HDFC Bank stock and expect up to 50% to 60% gain in the stock in 1 to 2 years.
As per technicals and indicators, the HDFC Bank is very bullish for the short term. Dozens of brokers and analysts have given a buy rating for the stock after its quarterly results as they see a huge gain in the stock in upcoming months.
Various brokers have given different targets for 1 year for the HDFC Bank stock but there are high chance it can cross Rs. 1700 to Rs. 1750 in 2024.
Final Words
HDFC Bank is one of the good and fundamental strong banking sector stocks for investing with low risk. In the last 2 to 3 years the HDFC Bank stock has given almost 0% return and many times it crashed from its all-time high. In the current situation, there are very high chance that HDFC Bank’s share price target can create a new all-time high in the year 2024. If you are also an investor check the HDFC Bank stock target for years 2024, 2025, and 2026 above.
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