Will the shares of HDFC Bank Ltd India’s largest commercial bank cross Rs. 2,000 followed by RBI easing norms and many more here is what Goldman Sachs has to say after it initiates a ‘Buy’ target on it.
Price Movement
With a market capitalization of Rs 14.4 lakh crore the share of HDFC Bank Ltd is trading at the recent high of Rs1886 zone and the stock is trading at 52 weeks high and it made an intraday high of Rs 1886.95 share up by 0.7 percent compared to the previous close of Rs 1877.90, and it gave a 25 percent return on last 1 year.
What Happened
HDFC Bank ltd, which engages in the provision of banking and financial services, including commercial banking and treasury operations, is in focus after Global Brokerage firm Goldman Sachs initiated “Buy” Target of Rs 2087 per share, with an upside potential of 11 percent.
The reasons for the “Buy” target.
Global brokerage firm Goldman Sachs said that HDFC Bank reduced its savings rate by 25 bps to 2.75 percent for Deposits under Rs. 50 lakh as a sign of confidence in deposit growth and an alignment with the Reserve Bank of India’s (RBI) stance.
The move is expected to ease margin pressures amid a potential rate-cut cycle. This rate adjustment is a prudent step, especially in light of muted growth in savings deposits across the system, as customers become increasingly financially aware.
About the company
HDFC Bank, the largest private sector bank in India, offers a wide range of banking and financial services, including retail and wholesale banking, loans, wealth management, and digital services. The Other Banking Business segment includes income from para-banking activities such as credit cards, debit cards, third-party product distribution, primary dealership business, and the associated costs.
Financials
The company reported a revenue of Rs 85,040 crores in Q3 FY25, up by 8.2 percent from its Q3 FY24 revenue of Rs 78,008 crores, It posted a net profit of Rs 18,340 crore in Q3 FY25, up by 3.3 percent, from its Q3 FY24 net profit of Rs 17,718 crores.
Written By Sanjay G
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