Top 3 stocks to buy: HDFC Bank, Infosys, BEL by Ganesh Dongre | Target price, stop-loss for IT, defence and bank shares
HDFC Bank is in focus in a defence development.
· LiveMint Markets
Ganesh Dongre of Anand Rathi believes the Nifty 50 index has moved into an oversold zone following recent stock market…
The analysis
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.
Why it matters
- 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, IT.
- The immediate tone of coverage reads negative.
In this story
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