HDFC Banks biggest Intraday jump in last 3 months

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The shares of HDFC Bank had the largest intraday increase in over three months. With a 2.63% gain today, the stock closed at ₹1,454 a share, the highest one-day increase since December 4.

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The benchmark Nifty 50 has also reached a new record high of 22,215 points thanks to this robust rise. 80% of the index's total gains today came from the sharp increase in HDFC Bank's shares, which has a significant 14% weighting in the Nifty 50.

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Citi has maintained its 'buy' recommendation on HDFC Bank, with a target price of ₹2,050 per share. This suggests a possible upside of more than 41% from the closing price of today. With a ₹2,110 target price per share, Morgan Stanley maintained its 'overweight' rating on the company.

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[{"selector":"#anim-36988db7-4aca-4804-bdd6-7cab616ef3c6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-83e0972a-152b-4fa8-af1e-996be89525dd","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] After the bank released its Q3 results, which were below analyst expectations, the shares saw strong selling pressure. There was a 17.56% decrease in the stock's value between January 16 and February 14. It has somewhat recovered in the last few sessions, although it is still 13.40% below the levels before to the Q3 statement. Recovery phase

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HDFC Banks biggest Intraday jump in last 3 months

Published : 21 February 2024

The shares of HDFC Bank had the largest intraday increase in over three months. With a 2.63% gain today, the stock closed at ₹1,454 a share, the highest one-day increase since December 4.

The benchmark Nifty 50 has also reached a new record high of 22,215 points thanks to this robust rise. 80% of the index's total gains today came from the sharp increase in HDFC Bank's shares, which has a significant 14% weighting in the Nifty 50.

Citi has maintained its 'buy' recommendation on HDFC Bank, with a target price of ₹2,050 per share. This suggests a possible upside of more than 41% from the closing price of today. With a ₹2,110 target price per share, Morgan Stanley maintained its 'overweight' rating on the company.

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