This ‘Captain Stock’ of Nifty has been in decline and then consolidation phase for the last few days, but now it has gained momentum.
The name of this stock is HDFC Bank(NSE: HDFCBANK). Shares of HDFC Bank Ltd was trading at the level of Rs 1,460 on Tuesday with a gain of 2 percent.
The weightage of HDFC Bank in Nifty 50 is 13.26 percent, which is much more than any other stock.
HDFC Bank is the stock with the highest weightage in the Nifty 50, followed by Reliance Industries, which has a 9.11 percent weightage in the Nifty 50.
Therefore, if any stock is made captain based on weightage among all the 50 stocks of Nifty 50, then it will be HDFC Bank.
HDFC Bank has seen a steady decline from higher levels since its quarterly results last month.
This stock had fallen from the level of Rs 1720 to the level of Rs 1,363. Till this level, FII and other investors sold this stock heavily.
After this, HDFC Bank saw buying from its lowest level of Rs 1363 on 14 February 2024 and consolidated to the level of Rs 1440.
After this, on Tuesday, March 12, 2024, this stock broke its upper range and started trading above the level of Rs 1450.
Good purchases are being seen in HDFC Bank on Tuesday. Buyers are getting active in this.
If this trend continues then targets of up to Rs 1710 can be achieved in HDFC Bank.
If we look at the daily time frame, we can see that a W pattern is forming on the chart and HDFC Bank has reached the upper band of this W pattern while trading on Tuesday.
The level of this upper band is 1463. If HDFC Bank crosses the level of 1463 on a closing basis then we can see a fresh break out in this stock and then it will rise rapidly.
If there is a break out above Rs 1465 in HDFC Bank, then short covering will come in this stock, and new buyers will also be activated, due to which this stock can move rapidly upwards towards the level of Rs 1700.
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 | ₹ 11,09,318 Cr. |
| Current Price | ₹ 1,460 |
| 52-wk High | ₹ 1,758 |
| 52-wk Low | ₹ 1,363 |
| Stock P/E | 16.3 |
| Book Value | ₹ 519 |
| Dividend | 1.30% |
| ROCE | 6.24 % |
| ROE | 17.1 % |
| Face Value | ₹ 1.00 |
| P/B Value | 2.81 |
| OPM | 47.5 % |
| EPS | ₹ 89.6 |
| Debt | ₹ 21,39,212 Cr. |
| Debt to Equity | 7.39 |
| Year | 1st Target | 2nd Target |
| 2024 | ₹ 1500 | ₹ 1765 |
| 2025 | ₹ 1800 | ₹ 1954 |
| 2026 | ₹ 2132 | ₹ 2323 |
| 2027 | ₹ 2435 | ₹ 2654 |
| 2028 | ₹ 2700 | ₹ 3000 |
| 2029 | ₹ 3123 | ₹ 3432 |
| 2030 | ₹ 3543 | ₹ 3675 |
| Promoters Holding | |
| Dec 2022 | 25.60% |
| Mar 2023 | 25.59% |
| June 2023 | 25.52% |
| Sept 2023 | 0.00% |
| Dec 2023 | 0.00% |
| FII Holding | |
| Dec 2022 | 32.10% |
| Mar 2023 | 32.24% |
| June 2023 | 33.38% |
| Sept 2023 | 52.13% |
| Dec 2023 | 52.31% |
| DII Holding | |
| Dec 2022 | 28.13% |
| Mar 2023 | 28.09% |
| June 2023 | 26.75% |
| Sept 2023 | 30.39% |
| Dec 2023 | 30.54% |
| Govt. Holding | |
| Dec 2022 | 0.16% |
| Mar 2023 | 0.16% |
| June 2023 | 0.16% |
| Sept 2023 | 0.17% |
| Dec 2023 | 0.17% |
| Public Holding | |
| Dec 2022 | 13.99% |
| Mar 2023 | 13.91% |
| June 2023 | 14.19% |
| Sept 2023 | 17.30% |
| Dec 2023 | 16.98% |
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 |
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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