Indo-MIM shares surge 145% from IPO price: Is there more upside left? Check target price
HDFC Bank secured new business in an ipo & listings development.
22 Sept 2026 · LiveMint Markets
Indo-MIM has surged post-IPO, prompting HDFC Securities to issue a Buy rating with a target price of ₹1,407, suggesting an 18% upside. The co's diversified manufacturing reach positions it well for growth, particularly in sectors like aerospace & defence amidst shifts in global supply chains.
The analysis
HDFC Bank reported ₹1,407,, with movement of 18% and 145% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -1.2% on the day at ₹702.65, and has returned -15.3% over three months. It sits 30% below its 52-week high, which means a good deal of bad news was already in the price. The banks sector has moved -4.0% over the same period, so HDFC Bank is running 11.3 points behind its peers.
For HDFC Bank, the question is how much of this is already reflected in the price and how much re-rates the banks peer set alongside it.
Why it matters
- Listing activity is a read on risk appetite — a hot primary market usually means a confident secondary one.
- Defence orders carry long execution tails and policy tailwinds, which the market values for their visibility.
Market context
- The company directly in focus is HDFCBANK.
- Sector exposure: Banks.
- The immediate tone of coverage reads positive.
In this story
Related coverage
HDFC Bank shares drop 15% in 3 months since Q1 results. Will Q2 earnings bring redemption as leadership cloud clears?
HDFC Bank Share Price Live Updates: HDFC Bank's Price Breakout Signals Strong Momentum
Vinay Rajani of HDFC Securities bullish on Shipping Corp & one other stock
Indian banks face a Q2 paradox: FCNR boosts loan growth but margins shrink
Banks vs NBFCs: Which stocks could benefit as RBI set to hike rates for the first time in 3 years?