HDFC Bank's stock has increased by 12% since it reached a 52-week low on February 14 of this year. The announcement of HDFC Bank's profits for the quarter ending December 2023 in February of this year caused sentiment surrounding the stock to deteriorate. On February 14, 2024, the stock hit a 52-week low of Rs 1363.45. HDFC Bank shares recovered 11.84% from their 52-week low to reach an intraday high of Rs 1525.10 on the BSE during the current session.

Nonetheless, the private lender's shares have dropped about 10% in a year and are still down 11.03% this year.

The HDFC Bank shares were trading flat on the BSE at Rs 1513.80 at 10:28 am. With HDFC Bank's relative strength index (RSI) at 55.4, the banking stock is neither trading in the overbought nor oversold regions. In the midst of a market rise, HDFC Bank's market capitalization increased to Rs 11.49 lakh billion.

A total of 1.66 lakh of the company's shares were traded, generating a BSE turnover of Rs 25.21 crore. The one-year beta of HDFC Bank's shares is 0.7. This suggests that the stock is not very volatile.

The large-cap company is now trading below the 100-, 150-, and 200-day moving averages but above the 5-, 20-, 30–, and 50-day moving averages.

Following Q4 results, BNP Paribas has set a price objective of Rs 2410 for the bank.

"A wholesale bank with a 14% RoE would be better served by valuation at 2.1xFY25E P/B than by India's premium retail bank, for which we anticipate a mean return to 17% in RoE. As "Sum of all anxieties" pointed out, we believe a lot of the fears are exaggerated and offer a compelling chance to purchase," the brokerage stated.

For the banking stock, YES Securities has set a target price of Rs 1850.