HDFC Bank Share Price: Brokerage firms expressed great confidence amid huge fall in the stock market.

HDFC Bank, one of the biggest giants of the Indian stock market, has recently seen a huge fall of up to 5%. While common investors are a little worried about this sudden decline, big market experts and global brokerage houses are seeing it as a big investment opportunity. Veteran financial analysts claim that this banking stock can see a tremendous upside potential of up to 57% from the current level.

Why did the shares of the country’s largest private bank fall?

According to market experts, due to global pressure, some technical improvements after quarterly results and profit booking by big institutional investors (FIIs), HDFC Bank shares have seen a correction of 5 percent. However, there has been no deterioration in the fundamentals of the bank. The bank’s position continues to be strong on the loan growth, deposit mobilization and asset quality front, due to which this decline can prove to be an excellent ‘buy on dips’ strategy for long-term investors.

Global brokerage houses report and big claim of 57% profit

Immediately after this fall in the stock, many renowned global brokerage firms have released their latest report on HDFC Bank. Most analysts have given the stock a ‘Buy’ or ‘Outperform’ rating. The brokerage believes that the bank’s credit growth will pick up further in the coming times. Its target price has been kept well above the current price level, which indicates a return of about 57% from the current price. According to analysts, for investors who want to invest in the market from the perspective of next 12 to 18 months, this stock can prove to be a strengthener for their portfolio.

What is your advice for Indian retail investors and local market?

If you invest in the domestic stock market from Delhi, Mumbai, Lucknow or any part of the country, then it can be beneficial to keep an eye on this leader of the banking sector. Local wealth managers and financial advisors say that the banking sector is the backbone of the Indian economy, and HDFC Bank is at the forefront of it. In such a situation, instead of panic selling, retail investors should gradually add this stock to their portfolio in a systematic manner, because in the coming time, the direct benefit of the expansion of digital banking and strong penetration in rural areas will be visible on the bank’s profits and its share price.