Shares of remained largely flat in Tuesday’s trading session, with the stock witnessing modest movement after opening at ₹705.60 on the .
HDFC Bank shares in focus
At 10.40 am, HDFC Bank shares were trading at ₹708.90, compared with the previous close of ₹704.80. The stock touched an intraday high of ₹710 during the session.
Trading activity remained balanced. As many as 14,76,448 shares were bought, accounting for 50.12 per cent of the traded quantity, while 14,69,273 shares were sold, representing more than 49 per cent.
The bank’s traded volume stood at around 73.50 lakh shares, with the traded value at ₹519.04 crore. HDFC Bank’s market capitalisation stood at approximately ₹10.93 lakh crore, while its adjusted price-to-earnings (P/E) ratio was 13.56.
The private lender appointed Anup Bagchi as its Managing Director and Chief Executive Officer for a three-year term, following approval from the Reserve Bank of India. The appointment comes as the lender continues to focus on its next phase of growth and business strategy under its senior leadership.
Bernstein retains outperform rating
Meanwhile, brokerage Bernstein has maintained its ‘outperform’ rating on HDFC Bank and retained a target price of ₹1,150 per share.
The brokerage’s target implies significant potential upside from the stock’s current trading levels, although the actual performance of the shares will depend on market conditions and the bank’s operating performance.
With HDFC Bank shares currently trading around ₹709, investors are closely tracking the leadership transition, valuation and brokerage outlook on the lender.