HDFC Bank shares rose by over 3% early Wednesday, making a hit record. A high passive fund inflow and likely weight increase in the MSCI index are expected. The bank shares have rallied to approximately 3.66%, giving a new high price of 1,730.45 INR on NSE. However, today, HDFC Bank shares saw a dip in the price. 1730.45 INR is the current price of the per share.
As per estimations by Nuvama Alternative & Quantitative Research, the holdings of FII below 55% can lead to a significant shift from 3.8% to 7.2% to 7.5%. It can probably push inflows worth $3.2 billion to $4 billion.
The Hdfc bank share price nse is 1,730.45 INR, which is a new high price. On the other hand, 2,130.00 INR is the HDFC bank share price BSE.
HDFC Bank Share News
The prediction of 44 analysts for a year price forecast is positive. The HDFC Bank share price has lifted the Bank Nifty index over 1,000 points or 1.85% above the 53,000 level. The share price has jumped nearly 20% in the past three months, whereas the stock is up 12% in a month.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “The delivery-based buying in HDFC Bank stock witnessed in the last many days has the potential to continue for a few more days, pushing the stock further up and imparting resilience to it. As the weightage of HDFC Bank in Nifty increases, there will be more delivery-based buying by ETFs and active funds. A marginally negative impact can be on other high weightage stocks in the Nifty like RIL, TCS, Infosys and ICICI Bank”.
Jefferies said that the HDFC bank share price target is 1,880.00 INR per share and has a rating of ‘Buy’. UBS said that the estimated buying of HDFC Bank’s stocks of $3 – 6.5 billion can lead to an MSCI weight increase. The firm said it has a ‘Buy’ rating with a target price of 1,900 INR per share.
HDFC bank share price target 2024
According to the calculations, an inflow worth of $3.2 billion is expected. The rise in MSCI index weight can be positive. In the medium term, strong deposit growth and increasing NIMs (Net Interest Margins) are key factors.
FAQ
Is HDFC Bank a good buy now?
Yes, the shares of HDFC Bank are a good option to invest in today, as rated by several analysts.
What is the prediction of HDFC Bank share?
44 analysts have predicted a year price forecast of HDFC Bank. They have estimated a maximum price target of 2,470.00 INR and a minimum of 1,620.00 INR.
Is HDFC Bank stock a good buy now?
Yes, after the prediction for a year and analysis of the last 3 months, it is recommended as a strong buy.
Will HDFC Bank shares price increase tomorrow?
The analysts have rated the HDFC Bank share as Buy. According to analysis, the share price can increase as it is higher than the current market price.
Why is HDFC Bank share price rising today?
The foreign holding in HDFC Bank has favoured the stock, leading to a potential weight doubling in the MSCI August 2024 review.
