HDFC Bank Shares May Rally 28%, Motilal Oswal Remains Bullish After CEO Clarity; Check Target Price
HDFC Bank secured new business.
· NDTV Profit
The appointment of Anup Bagchi as MD and CEO, removes a key overhang surrounding HDFC Bank's leadership succession and brings an external perspective at a time when the bank is seeking to rebuild investor confidence, adds the brokerage.
The analysis
HDFC Bank reported movement of 28%. 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 -1.5% on the day at ₹692.20, and has returned -14.6% over three months. It sits 31% below its 52-week high, which means a good deal of bad news was already in the price. The banks sector has moved -1.7% over the same period, so HDFC Bank is running 12.9 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.
- The immediate tone of coverage reads positive.
In this story
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