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Golden Chance To Buy This Top Nifty 50 Share; Ready To Touch ₹2000; Don’t Sell Before ₹2000

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HDFC Bank Ltd (NSE: HDFCBANK): After the December 2023 results, the Nifty 50 stock HDFC Bank continued to decline. 

The stock reached a low point of 1360. However, investors gained confidence and began buying HDFC Bank shares.

HDFC Bank Ltd decided to increase the price of its shares from Rs 1360 up to Rs 1470. The shares is ready To Touch ₹2000; expert says that Don’t Sell Before ₹2000.

Investors gained confidence after this purchase and believed that the stock would rise further and compensate for its decline.

Stocks began to consolidate and the weakness was considered an old thing. Now that HDFC Bank’s stock has reached a level of Rs 1450 it shows weakness and continues to fall.

It has been a common occurrence that HDFC Bank’s price action has caused a large fall in Nifty or Bank Nifty, but HDFC Bank’s range remained between 1430 and 1450. 

The stock had been showing strength, but the tables now seem to be changing.

HDFC Bank formed a Harami candle in the trading session. This indicates that the stock may drop sharply from here and then return to its previous low of 1360.

HDFC Bank’s price is falling. This stock has been continuously declining since it reached a high of Rs 1470 on 13 March. 

On Wednesday, a bearish candle appeared on the daily chart. This candle’s low is 1424.70. 

This means that if the stock trades below 1424.70 then the Bearish Harami will be active and this stock is once again vulnerable to a large fall.

HDFC Bank’s stock has fallen for the past 6 trading sessions. Based on the pattern that was formed during recent trading session, there could be a large fall in the share price. 

If the stock drops from here, we could see 1360 levels once again.

If the stock somehow closes above Rs 1460 in the daily chart then bullish feelings will return and it will begin to move forward again. On Thursday the share was closed at Rs 1445.40.

About HDFC Bank Ltd 

HDFC Bank Limited, a financial conglomerate, offers a variety of financial services via its subsidiaries. These include banking, mutual funds, insurance, and other financial services. 

The Bank provides a variety of banking services and products. Commercial and Investment Banking, Transactional Banking, and Branch-Based Banking are all available.

The Treasury segment includes the net interest earned from its investment portfolio as well as money market borrowing, lending, gains and losses on investment transactions, trading in foreign currency and derivative contracts, and gains and losses on investment operations.

Retail Banking includes Digital Banking, Other retail banking, and Retail Banking. Wholesale Banking provides non-funding facilities and transaction services for large corporations, government units, financial institutions, and medium-sized enterprises.

Fundamental Analysis of HDFC Bank Ltd 

Market Cap₹ 10,95,509 Cr.
Current Price₹ 1,445.40
52-wk High₹ 1,757.50
52-wk Low₹ 1,363.55
Stock P/E16.15
Book Value₹ 519
Dividend1.33 %
ROCE6.24 %
ROE17.1 %
Face Value₹ 1.00
P/B Value2.79
OPM47.5 %
EPS₹ 89.6
Debt₹ 21,39,212 Cr.
Debt to Equity7.39

HDFC Bank Ltd Share Price Target 2024 To 2030

Year1st Target2nd Target
2024₹ 1500₹ 1765
2025₹ 1800₹ 1954
2026₹ 2132₹ 2323
2027₹ 2435₹ 2654
2028₹ 2700₹ 3000
2029₹ 3123₹ 3432
2030₹ 3543₹ 3675
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HDFC Bank Ltd Shareholding Pattern

Promoters Holding
Dec 202225.60%
Mar 202325.59%
June 202325.52%
Sept 20230.00%
Dec 20230.00%
FII Holding
Dec 202232.10%
Mar 202332.24%
June 202333.38%
Sept 202352.13%
Dec 202352.31%
DII Holding
Dec 202228.13%
Mar 202328.09%
June 202326.75%
Sept 202330.39%
Dec 202330.54%
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Govt. Holding
Dec 20220.16%
Mar 20230.16%
June 20230.16%
Sept 20230.17%
Dec 20230.17%
Public Holding
Dec 202213.99%
Mar 202313.91%
June 202314.19%
Sept 202317.30%
Dec 202316.98%

HDFC Bank Ltd Share: Last 5 Years’ Financial Condition

To better understand how the market is performing, let’s look at the outlook of this share in the previous years. 

However, investors should be aware of the risks and the market conditions before making any investment decision.

Last 5 Years’ Sales:

2019₹ 105,161 Cr
2020₹ 122,189 Cr
2021₹ 128,552 Cr
2022₹ 135,936 Cr
2023₹ 251,764 Cr
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Last 5 Years’ Net Profit:

2019₹ 22,446 Cr
2020₹ 27,296 Cr
2021₹ 31,857 Cr
2022₹ 38,151 Cr
2023₹ 60,068 Cr

Last 10 Years’ Profit Growth:

10 Years:21%
5 Years:20%
3 Years:19%
Current Year:35%

Last 10 years’ Return on Equity (ROE):

10 Years:17%
5 Years:17%
3 Years:17%
Last Year:17%

Sales Growth Over 10 Years:

10 Years:17%
5 Years:15%
3 Years:12%
Current Year:59%

Conclusion

This article is a complete guide about HDFC Bank Ltd Share.

These information and forecasts are based on our analysis, research, company fundamentals and history, experiences, and various technical analyses. 

Also, We have talked in detail about the share’s future prospects and growth potential.

Hopefully, these informations will help you in your further investment. 

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