HDFC Bank valuations attractive, analysts recommend adding after recent fall

HDFC Bank valuations attractive, analysts recommend adding after recent fall



Analysts at global brokerage firms maintained their bullish view on Nifty 50 heavyweight HDFC Bank Ltd. after it posted a robust business update for the fourth quarter of FY24. Reacting to the strong numbers, the HDFC Bank stock had advanced 3.15% and was also the top Nifty 50 gainer on April 4. This was also the first time that the stock traded above the mark of ₹1,500 per share since January 2024.

Shares of HDFC Bank have corrected 13% from its 52-week high of ₹1,757.80. The HDFC Bank stock has been underperforming over the last one year with negative returns. So far in 2024, the stock has declined 10% as against a 3.6% gain clocked by the frontline index Nifty 50.


According to global broking firm Macquarie, HDFC Bank’s fourth quarter business update shows the consolidation strategy is playing out well. It said the largest private lender has surprised positively on deposit growth, and a decline in corporate loan growth and loan to deposit ratio (LDR) are excellent outcomes.

The brokerage believes HDFC’s valuations continue to remain attractive and its a buying opportunity post a 10% correction so far this year.

Yes, that’s right. Some analysts believe HDFC Bank is a good buying opportunity right now due to its recent price decline. Here’s a summary of what they’re saying:

  • Attractive valuations: After a 10% correction this year, analysts say HDFC Bank’s stock price is looking appealing [1].
  • Buy recommendation: Brokerages like Macquarie are maintaining an “Outperform” rating and have set high target prices for the stock [1].

It’s important to note that this is just one perspective on HDFC Bank. Before making any investment decisions, you should do your own research and consider factors like your risk tolerance and overall investment goals.

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