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Live HDFCBANK/INR priceHDFC Bank to Indian Rupee
Bank stocks are not ideal for long-term investment due to significant downturns and sensitivity to economic conditions, according to analysts. High volatility is likely to persist, providing opportunities to profit from fluctuations in both directions in the medium term. The projected stock value by the end of 2024 is ₹1,732.74.
HDFC Bank (HDFCBANK) is India's largest bank by market capitalization, also ranking among the top 5 banks in the country by asset levels. It operates as a universal bank, providing a full range of banking services to retail clients and businesses. While the majority of its branches are in India, it has subsidiaries in Bahrain, the UAE, Hong Kong, and Kenya, though their contribution to the bank's overall revenue is less than 1-2%.
Current HDFCBANK stock price ₹1,533.
According to analytical forecasts, the price of HDFCBANK stocks may reach ₹1,732.74 by the end of 2024, and it is expected to be - ₹2,599.2 by the end of 2029.
Based on technical analysis indicators, the recommendation for the 1H (one-hour) timeframe is Strong Buy, and for the 1D (one-day) timeframe - Strong Buy.
The stock value is directly tied to revenue and financial results, which, in turn, depend on market conditions. The stocks are highly sensitive to economic downturns. For example, during the pandemic, the bank's securities depreciated in EUR by almost 40% in 1.5 months despite recovery, with no clear upward trend. In INR, the situation is similar, with a slight upward movement due to the rupee devaluation and deep downturns.
The information in this review can be used to:
- Compare financial indicators of companies within the same industry, different industries, and countries.
- Analyze multiples.
- Develop strategies for long-term investment and/or short-term trading.
Here, you'll find stock price forecasts for both short- and long-term periods based on technical analysis. These forecasts are compiled by analysts from the Traders Union and independent analytical agencies.
On this page, you will find the latest information about current prices, updated and new forecasts for short and long-term intervals:
- Asset quotes are updated every minute.
- Price chart is updated every minute.
- Technical indicator data is updated according to the time frame. For example, on M5, the data is updated every 5 minutes.
- Medium and long-term forecasts are updated every hour.
- Financial reporting data is updated quarterly.
