Shares of HDFC Bank Ltd have gained nearly 2% over the past week, currently trading at ₹972.60, supported by renewed optimism in the banking sector and positive sentiment from global brokerages.
Bank of America (BofA) has maintained its ‘Buy’ rating on HDFC Bank, reaffirming confidence in the lender’s steady growth outlook. The brokerage has also set a target price of ₹1,175 per share, implying a potential upside of around 20% from current levels.
BofA cited the bank’s robust balance sheet, stable margins, and consistent retail loan growth as key positives, noting that HDFC Bank continues to deliver healthy operating performance despite competitive pressures in the sector.
Meanwhile, Macquarie has taken a balanced stance across the financial space—remaining long on HDFC Bank, ICICI Bank, PFC, REC, and Aditya Birla Capital, while shorting IndusInd Bank, M&M Finance, and SBI Cards.
With the bank’s shares stabilizing after recent volatility, analysts believe the near-term outlook remains constructive, supported by strong fundamentals, improving credit growth, and an expected pick-up in earnings momentum in upcoming quarters.
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