Vinay Rajani of HDFC Securities bullish on Shipping Corp & one other stock
HDFC Bank secured new business.
7 Oct 2026 · Business Standard Mkts
Immediate resistance for Nifty 50 is placed at 22,875, followed by 23,080. On the downside, support has shifted higher to around 22,550.
The analysis
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.
Market context
- The company directly in focus is HDFCBANK.
- Sector exposure: Banks.
In this story
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