Tue Oct 22 14:26:32 UTC 2024: **HDFC Bank Share Price Summary (October 22, 2023)**
– **Current Share Price**: ₹1714.1, down by 0.85% from the previous close.
– **Market Context**: Sensex is at ₹80220.72, down by 1.15%.
– **Daily High/Low**: Stock reached as high as ₹1740 and as low as ₹1710.95.
– **Technical Analysis**:
– Trading above short-term (5, 10, 20 days) and long-term (50, 100, 300 days) simple moving averages.
– Key resistance levels are ₹1731.13, ₹1750.07, and ₹1760.13; support levels are ₹1702.13, ₹1692.07, and ₹1673.13.
– Trading volume is up 20.75% compared to the previous session.
– Overall, the stock is in a strong bullish trend.
– **Fundamental Analysis**:
– Return on Equity (ROE) is 17.18%.
– Price-to-Earnings (P/E) ratio is 18.79; Price-to-Book (P/B) ratio is 2.69.
– 1-year forecasted upside is 13% with a target price of ₹1937.
– Promoter holding is 0.00%, Mutual Fund (MF) holding is 8.27% (up from 8.21%), and Foreign Institutional Investor (FII) holding is 48.00% (up from 47.15%).
– **Peer Performance**: While HDFC Bank shares have dipped, its peers such as State Bank of India, Kotak Mahindra Bank, and Axis Bank are also declining, whereas ICICI Bank is performing positively.
– **Market Trend**: Benchmark indices Nifty and Sensex are both down, indicating a broader negative market trend.
First Piper 