Brokerage Report: IIFL maintains ‘Buy’ on HDFC Bank, projects 13.6% upside

IIFL has reiterated its ‘Buy’ rating on HDFC Bank with a target price of ₹1,900, implying a potential upside of 13.6% from the current market price of ₹1,671.90.

The brokerage highlighted HDFC Bank’s continued rationalization of its Loan-to-Deposit Ratio (LDR) and market share gains in deposits. Strong operational expense (opex) control and stable asset quality were also noted as key positives.

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IIFL emphasized the bank’s steady execution and efforts to narrow the profitability gap, which could lead to a gradual re-rating. Additionally, the brokerage raised its EPS estimates for FY25-26 by 2%, driven by these positive trends.

Disclaimer: This article is for informational purposes only and does not constitute financial advice.