HDFC Bank shares set for rally? Q4 results strong; here are revised price targets
HDFC Bank has recorded a steady growth for the March quarter, with in-line profit, a beat on net interest income (NII), and a marginal improvement in core margins sequentially. Following its quarterly results, a few stock analysts have maintained their ‘Buy’ ratings but increased target prices for the HDFC Bank stock to roughly Rs 2,200-2,350 apiece.
Nuvama Institutional Equities said the HDFC Bank’s Q4FY25 earnings were strong, given the positive outcomes on asset quality, gain in deposit market share, improving LDR and uptick in core NIM. It reiterated its ‘Buy’ rating on the stock with a revised target of Rs 2,195 from Rs 1,950. The domestic brokerage said it cut its NIM estimates for HDFC Bank, but revised opex and credit cost…
