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Updated · MarketWatch · May 6HDFC Bank shares rise 3.11% and outperform market
8 articles · Updated · MarketWatch · May 6
- The stock closed at 796.60 rupees on Wednesday as the BSE Sensex gained 1.22% to 77,958.52 in a broadly positive session.
- Despite the advance, HDFC Bank ended 21.93% below its 52-week high of 1,020.35 rupees reached on 23 October.
- Trading volume was 1.8 million shares, below the 50-day average of 2.4 million, indicating the rally came on lighter-than-usual activity.
Wall Street analysts are turning bearish on HDFC Bank. Why do local experts still see a 'Buy' opportunity? After its mega-merger, can HDFC Bank fix its 'profit squeeze' and reclaim its market dominance?