HDFC Bank Share Price Today Live Updates 3 July 2024: HDFC Bank stock surged 3% to trade among top gainers in Nifty 50 pack.

Shares of HDFC Bank rose 3.02% on the NSE to trade at ₹1,782.80 as at 12.06 pm.

Top gainers of Nifty bank stocks:

Federal Bank (3.77%), HDFC Bank (3.10%), IDFC First Bank (2.08%), Axis Bank (1.72%)

HDFC Bank stock in focus

HDFC Bank stock rose 3.07% on the NSE to trade at ₹1,783.65 as at 11.26 am.

Jefferies on HDFC Bank

Buy Call, Target Rs1880

HDFC Bank’s shareholding for June’24 points that foreign shareholding fell to 54.83% vs 55.54% in Mar’24

MSCI’s threshold to raise foreign inclusion factor (FIF) from 50% to 100%

With that, bank may be eligible for jump in index weight at next review in Aug’24

This could be positive near-term catalyst in stock

In medium term, strong deposit growth and improving NIMs should be key drivers

Brokerages on HDFC Bank 

UBS on HDFC Bank: Maintain Buy on Bank, target price at Rs 1900/Sh (Positive)

Jefferies on HDFC Bank: Maintain Buy on Bank, target price at Rs 1880/Sh (Positive)

HDFC Bank’s total market cap is at ₹13.54 lakh crore as per NSE data.

HDFC Bank weight in MSCI EM set to double in August rejig

The foreign room for HDFC Bank has risen to 25.9 per cent for the quarter ended June, making it eligible for a significant bump-up in weight at the upcoming MSCI index revision in August.

HDFC Bank’s weight in the MSCI EM Index is about 3.8 per cent. Post-rejig, this could jump to 7.2-7.5 per cent, potentially bringing in $3.2-4 billion in inflows over six days, according to estimates by Nuvama Alternative & Quantitative Research. Read more

HDFC Bank share price in focus

HDFC Bank stock rose 2.54% on the NSE, trading at ₹1,774.55 as at 9.41 am.