HDFC Bank Share Rallies 2% to ₹1,944 in Early Trade; Nears 52-Week High Ahead of Q4 Results
HDFC Bank share jumped 2% in morning trade on April 21, nearing its 52-week high amid strong institutional buying and Q4 optimism.
Key Highlights:
HDFC Bank Share Jumps 2% to ₹1,944 in Early Trade on April 21
HDFC Bank Share surged ₹37.90 or 2.00% to quote at ₹1,944.90 as of 9:25 AM IST, nearing its 52-week high of ₹1,950.70. The rally came amid strong early buying from institutional investors ahead of the lender’s Q4 FY24 results, expected to be released next week.
The stock opened at ₹1,924 and has shown robust upward momentum, signaling improved investor confidence in India’s largest private sector bank.
Strong Institutional Interest Powers the Rally
Today’s move was led by:
- Anticipation of improved loan growth and NIM stability
- Positive commentary from recent credit growth data
- Hopes of robust treasury and retail banking performance
- Continued traction post-merger with HDFC Ltd
This rally also comes after a period of underperformance, suggesting a catch-up trade is in play.
HDFC Bank Share Snapshot – April 21
| Parameter | Value |
|---|---|
| Current Price | ₹1,944.90 |
| Day’s High | ₹1,950.70 |
| Day’s Low | ₹1,910.00 |
| Previous Close | ₹1,906.70 |
| 52-Week High | ₹1,950.70 |
| 52-Week Low | ₹1,426.80 |
| Market Cap | ₹14.88 Lakh Cr |
| P/E Ratio | 21.36 |
| Dividend Yield | 1.00% |
HDFC Bank vs Key Private Bank Peers
| Bank | Price (₹) | Change (%) |
|---|---|---|
| HDFC Bank | 1,944.90 | +2.00% |
| ICICI Bank | 1,421.40 | +1.05% |
| Axis Bank | 1,134.75 | +0.42% |
| Kotak Mahindra | 1,741.10 | +0.25% |
| IndusInd Bank | 1,442.60 | +0.35% |
HDFC Bank led the private banking pack with the biggest intraday gain among peers.
Technical Levels for HDFC Bank Share
| Level Type | Price (₹) |
|---|---|
| Immediate Support | 1,930 |
| Strong Support | 1,910 |
| Resistance Zone | 1,950 / 1,975 |
| Breakout Target | 2,000 |
A breakout above the ₹1,950 level — its current 52-week high — could trigger further gains, with analysts watching ₹2,000 as a psychological milestone.
What Analysts Expect from Q4 Earnings
Analyst expectations remain optimistic:
- JP Morgan: “Loan growth, merger synergies to drive PAT. Retain Overweight; TP ₹2,150.”
- Kotak Institutional Equities: “Improving CASA and retail growth should lift NIMs.”
- IIFL Securities: “Recovery in margins and controlled NPAs expected.”
Final Word on HDFC Bank Share Today
HDFC Bank share saw a sharp uptick in early trade, supported by positive sentiment around Q4 earnings and renewed buying interest in private banks. With the stock nearing a critical breakout zone, traders and investors should watch the ₹1,950–₹1,975 band closely for directional cues.
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