Mumbai, India – HDFC Bank Ltd. shares have reached a three-month high, trading above the Rs 800 mark and closing in on Rs 812 in the latest session. This surge represents a significant 21% recovery from the 52-week low of Rs 668.90 recorded on October 28, 2026.
The banking stock has shown a bullish trend, now trading above its 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages. The bank's market capitalization has also climbed, reaching Rs 12.44 lakh crore.
Brokerages Raise Price Targets for HDFC Bank
Following the robust recovery, leading financial brokerages have expressed increased confidence in HDFC Bank's outlook.
- JM Financial has upgraded its rating on HDFC Bank from 'ADD' to 'BUY', raising its target price to Rs 850 from Rs 800. The brokerage noted near-term growth constraints but remains positive on medium-term Net Interest Margin (NIM) recovery. They anticipate a 15% loan and 14% EPS CAGR over FY26–29E.
- Motilal Oswal Financial Services (MOFSL) has reiterated its 'BUY' rating with an even higher price target of Rs 925. MOFSL has adjusted its FY27 and FY28 earnings estimates upwards by 3.5% each, projecting a Return on Asset (RoA) of 1.74% and Return on Equity (RoE) of 14.1% by FY28E.
Technical Indicators Suggest Overbought Conditions
While the momentum is strong, the Relative Strength Index (RSI) for HDFC Bank's stock currently stands at 74.4. An RSI value above 70 typically indicates that a stock is in an overbought zone on technical charts, suggesting potential for a short-term correction.
Disclaimer: This article provides market news for informational purposes only and should not be considered investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.