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Business Standard
3 days ago
- Business
- Business Standard
HDFC Bank Ltd soars 1.44%, rises for third straight session
HDFC Bank Ltd is quoting at Rs 1977.6, up 1.44% on the day as on 12:49 IST on the NSE. The stock is up 25.69% in last one year as compared to a 7.26% gain in NIFTY and a 13.62% gain in the Nifty Bank index. HDFC Bank Ltd rose for a third straight session today. The stock is quoting at Rs 1977.6, up 1.44% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.93% on the day, quoting at 24981.3. The Sensex is at 82143.11, up 0.86%. HDFC Bank Ltd has added around 1.64% in last one month. Meanwhile, Nifty Bank index of which HDFC Bank Ltd is a constituent, has added around 3.62% in last one month and is currently quoting at 55760.85, up 1.48% on the day. The volume in the stock stood at 92.87 lakh shares today, compared to the daily average of 101.58 lakh shares in last one month. The benchmark June futures contract for the stock is quoting at Rs 1981.4, up 1.17% on the day. HDFC Bank Ltd is up 25.69% in last one year as compared to a 7.26% gain in NIFTY and a 13.62% gain in the Nifty Bank index. The PE of the stock is 22.19 based on TTM earnings ending March 25.
Mint
02-06-2025
- Business
- Mint
Three stocks to buy today: Expert Ankush Bajaj's picks for 2 June
On Friday, 30 May, the Indian stock market opened with a slight gap-down and slipped further in the morning as selling pressure persisted. The Nifty tested the 24,700 level during the session but found some support there. However, instead of recovering, the market moved sideways for the rest of the day, showing signs of indecision and lack of buying interest. Top three stocks recommended by Ankush Bajaj for 2 June: HDFC Bank Ltd (current price: ₹1945) Why it's recommended: The stock has shown a strong rebound from support levels and, on the lower time frame, has given a consolidation breakout, which indicates the start of a new trend and suggests a potential for further upside. Key metrics: Resistance level: ₹1,975 (short-term target) | Support level: ₹1,924 (pattern invalidation level) Pattern: Consolidation breakout on lower timeframe with sustained price action RSI: Bullish on both daily and lower timeframes, confirming strength in the breakout Technical analysis: The breakout from the consolidation zone on lower timeframes, combined with improving RSI and price strength, points to a continuation of the bullish trend. Sustaining above ₹1,945 increases the probability of achieving the projected target. Risk factors: A breakdown below ₹1,924 could invalidate the bullish breakout. Broader market corrections or sector-specific weakness may also affect price action. Buy at: ₹1,945 Target price: ₹1,975 in 4–5 days Stop loss: ₹1,924 Also Read: FMCG stocks face margin pressure. Here's why Tata Steel Ltd (current price: ₹161) Why it's recommended: The stock is in an uptrend and is currently trading at a major demand zone between ₹161– ₹158. A bounce back is expected from this level, suggesting a potential for further upside. Key metrics: Resistance level: ₹167– ₹171 (short-term target zone) | Support level: ₹158 (pattern invalidation level) Pattern: Pullback setup from demand zone in ongoing uptrend RSI: Bullish reversal expected from oversold zone on lower time frames, indicating early signs of strength Technical analysis: The stock is approaching a key support area within an ongoing uptrend. The confluence of the demand zone and oversold RSI on lower timeframes increases the likelihood of a bounce toward ₹167– ₹171. Risk factors: A breakdown below ₹158 could invalidate the bullish setup. Broader market weakness or unexpected sector pressure could affect price movement. Buy at: ₹161 Target price: ₹167– ₹171 in 4–5 days Stop loss: ₹158 Also Read: This textile star's rally masks a margin meltdown. Should investors be worried? Union Bank Ltd (current price: ₹146.80) Why it's recommended: The stock is showing strength in an ongoing uptrend and has taken support near ₹145 levels. On the lower time frame, it is forming a bullish structure, indicating the potential for a quick upward move. Key metrics: Resistance level: ₹151– ₹153 (short-term target zone) | Support level: ₹144 (pattern invalidation level) Pattern: Support-based entry in bullish continuation setup RSI: Bullish on lower timeframes with rising momentum, supporting the price action Technical analysis: Union Bank has maintained higher lows and is showing signs of fresh momentum from the support zone. Sustaining above ₹146.80 may trigger a move toward the ₹151– ₹153 zone. Risk factors: A breakdown below ₹144 could negate the bullish view. Broader market volatility or sector rotation could limit upside. Buy at: ₹146.80 Target price: ₹151– ₹153 in 4–5 days Stop loss: ₹144 Market wrap The Nifty 50 ended 82.90 points lower, down 0.33%, at 24,750.70 on 30 May. The BSE Sensex fell by 182.01 points or 0.22% to close at 81,451.01. The Bank Nifty managed to recover slightly and closed 203.65 points higher, up 0.37%, at 55,749.70. Among sectors, PSU Banks stood out with a gain of 2.88%, followed by the banking index up 0.37% and the finance index, which rose 0.08%. On the other hand, metal stocks were under pressure, with the index falling 1.69%. The PSE index was down 1.14%, while the auto index slipped 0.98%. In stock action, Eternal jumped 4.35% as buyers remained active. SBI gained 1.87% on continued strength in the banking space. HDFC Bank also moved up 0.90% due to positive sentiment around large private lenders. Among the top losers, Bajaj Auto declined 3.01% as investors booked profits. Hindalco fell 2.54% amid weakness in metals. Shriram Finance dropped 1.98% following recent gains. Nifty technical analysis: Daily & hourly The Nifty experienced another day of consolidation, ending in the red with a loss of 83 points. On the daily charts, it has been trading within a narrow range of 24,500 to 25,000 for the past ten sessions. Also Read: Strong domestic demand, firm steel prices to keep SAIL in focus The daily momentum indicator is steadily approaching the equilibrium line, indicating that this consolidation phase may be nearing its end and could soon give way to an upward move. The 20-day moving average at 24,692 is currently acting as a strong support level, and a breach below this could result in a decline towards 24,400. On the upside, the immediate resistance lies between 24,850 and 24,900, and a move above this zone could trigger a rally towards 25,100. From a technical standpoint, the Nifty is trading above both the 20-day moving average (24,692) and the 40-day exponential moving average (24,275). However, the daily momentum indicator has shown a negative crossover, suggesting some caution. On the hourly chart, the Nifty is trading below the 20-hour and 40-hour exponential moving averages, which are placed at 24,769 and 24,793, respectively. Interestingly, the momentum indicator on the hourly chart has shown a positive crossover. Market breadth was negative for the day, with 1,300 stocks advancing and 1,597 declining on the National Stock Exchange. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Standard
22-05-2025
- Business
- Business Standard
IndusInd Bank Ltd Slips 4.15%
IndusInd Bank Ltd has lost 6.16% over last one month compared to 2.41% fall in BSE BANKEX index and 2.17% rise in the SENSEX IndusInd Bank Ltd fell 4.15% today to trade at Rs 739.1. The BSE BANKEX index is down 0.39% to quote at 62270.34. The index is down 2.41 % over last one month. Among the other constituents of the index, Axis Bank Ltd decreased 0.46% and HDFC Bank Ltd lost 0.35% on the day. The BSE BANKEX index went up 13.93 % over last one year compared to the 9.57% surge in benchmark SENSEX. IndusInd Bank Ltd has lost 6.16% over last one month compared to 2.41% fall in BSE BANKEX index and 2.17% rise in the SENSEX. On the BSE, 2 lakh shares were traded in the counter so far compared with average daily volumes of 4.82 lakh shares in the past one month. The stock hit a record high of Rs 1550 on 19 Jun 2024. The stock hit a 52-week low of Rs 605.4 on 12 Mar 2025.
Business Standard
20-05-2025
- Business
- Business Standard
HDFC Bank Ltd Falls 0.19%
HDFC Bank Ltd has added 1.49% over last one month compared to 1.09% gain in BSE BANKEX index and 4.54% rise in the SENSEX HDFC Bank Ltd lost 0.19% today to trade at Rs 1935. The BSE BANKEX index is down 0.02% to quote at 62975.16. The index is up 1.09 % over last one month. Among the other constituents of the index, IndusInd Bank Ltd decreased 0.08% on the day. The BSE BANKEX index went up 14.37 % over last one year compared to the 10.96% surge in benchmark SENSEX. HDFC Bank Ltd has added 1.49% over last one month compared to 1.09% gain in BSE BANKEX index and 4.54% rise in the SENSEX. On the BSE, 4804 shares were traded in the counter so far compared with average daily volumes of 3.77 lakh shares in the past one month. The stock hit a record high of Rs 1977.95 on 23 Apr 2025. The stock hit a 52-week low of Rs 1449 on 22 May 2024.
Business Upturn
22-04-2025
- Business
- Business Upturn
HDFC Bank becomes India's third company after Reliance, TCS to cross Rs 15 lakh crore market cap; stock hits 52-week high
HDFC Bank Ltd made history on April 22, 2025, by becoming only the third Indian company to surpass a market capitalization of ₹15 lakh crore, following the footsteps of Reliance Industries and Tata Consultancy Services. The milestone came as shares of the private sector lender climbed nearly 2% in Tuesday's session, hitting ₹1,965.10 in intraday trade. The stock touched an intraday high of ₹1,970.60—its new 52-week peak—before holding steady with a gain of ₹38.00 from its previous close of ₹1,927.10. The rally was driven by strong Q4 FY25 earnings that exceeded analyst expectations. HDFC Bank reported a standalone net profit of ₹17,616 crore for the quarter, up 6.7% year-on-year and ahead of the projected ₹17,072 crore. Sequentially, profit rose 5.3%. The bank's board also announced a dividend of ₹22 per share (face value ₹1) for FY25, with June 27, 2025, as the record date. Strong operating metrics Net Interest Income (NII): ₹32,070 crore, up 10.3% YoY Net Interest Margin (NIM): 3.54% (core NIM at 3.46%) Gross NPA: 1.33% (down from 1.42% QoQ) Net NPA: 0.43% Provisions: ₹3,190 crore, down from ₹13,510 crore in Q4 FY24 Deposits: ₹25.28 lakh crore, up 15.8% YoY Gross Advances: ₹26.44 lakh crore Retail loans: +9% Rural/Commercial: +12.8% Corporate loans: -3.6% CASA Ratio: 34.8% Capital Adequacy Ratio (CAR): 19.6% (vs 18.8% YoY) Brokerage upgrades The solid Q4 showing has prompted several brokerages to revise their target prices: Axis Capital: Maintains 'Buy', raises TP to ₹2,205 from ₹2,000 Jefferies: Reiterates 'Buy', hikes TP to ₹2,340 from ₹2,120 CLSA: Maintains 'Buy', ups TP to ₹2,200 from ₹1,785 Macquarie: 'Outperform' maintained, raises TP to ₹2,300 With robust financials, improved asset quality, and positive brokerage outlooks, HDFC Bank continues to strengthen its leadership among private sector banks and is well-positioned to sustain its growth momentum. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
