HDFC Bank share price gains 10% in 3 weeks to hit 1-year high: Should you buy, sell or Hold the stock?
Live MintStock Market Today: HDFC Banks share price hit 1 Year high on Thursday, having risen more than 10% in 3 weeks. HDFC Bank has largely outperformed its large private peers in the recent past, primarily on account of its relatively better margin, asset quality outcomes amid rising asset quality noises in unsecured loans, said analysts at Emkay Global Financial Services. HDFC Bank is also planning to launch IPO of its NBFC subsidiary –HDB Financial Services to the tune of Rs12,500 crore in line with regulatory requirement and also to unlock value With low levels of non-performing assets, HDFC Bank has a solid asset quality profile, demonstrating responsible lending practices. The general upbeat attitude in the banking industry, which has been fueled by elements like digitalization and consolidation, has also helped HDFC Bank's stock price rise said Pravesh Gour of Swastika Investmart Ltd Technical Outlook Sudeep Shah, Deputy Vice President, Head of Technical & Derivatives Research at SBI Securities said that the stock is strongly outperforming the frontline indices.