HDFC Bank Stock Sees Small Gain After Jefferies View
Global brokerage Jefferies has shared a positive outlook on HDFC Bank, India’s largest private sector bank. Following this update, HDFC Bank’s shares rose by 0.93%, closing at ₹1,935 on June 16 on the NSE.
Jefferies backs HDFC Bank, expects 23% upside. Optimistic on HDB Financial Services IPO worth ₹12,500 crore. SEO keyword: HDB Financial Services IPO
Jefferies: HDFC Bank Still a Top Pick
Jefferies kept its ‘Buy’ rating on HDFC Bank and set a price target of ₹2,380, expecting a 23% upside. The firm believes that:
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- Consumption will grow in FY26
- Credit demand will rise in the second half of FY26
- Loan growth will match the sector in FY26
- The bank will outperform peers in FY27
They also expect net interest margins (NIMs) to face short-term pressure but recover by FY27. The asset quality remains strong and stable.
Jefferies Dismisses Market Buzz
Jefferies downplayed recent news reports and market chatter about the bank and its leadership. The firm said such noise holds no major impact on the bank’s fundamentals or stock outlook.
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HDB Financial IPO Adds More Optimism
HDFC Bank’s positive outlook is also supported by news about its key subsidiary—HDB Financial Services—which is preparing for its ₹12,500 crore IPO.
This will be:
- India’s biggest NBFC IPO ever
- Likely to launch by end of June
- Aimed at a valuation of around ₹62,000 crore (USD 7.2 billion)
Jefferies sees this IPO as a value unlock and a positive trigger for HDFC Bank’s overall portfolio.
IPO Timing Depends on Market Conditions
Sources say the IPO plan could change slightly if there are unexpected market events or policy shifts. However, confidence in the launch window remains strong.
Jefferies continues to favor HDFC Bank, expecting strong growth by FY27. Its subsidiary, HDB Financial Services, is planning a ₹12,500 crore IPO, which adds more investor excitement.
The upcoming HDB Financial Services IPO, along with strong growth expectations, is boosting investor confidence in HDFC Bank. With Jefferies’ buy call and positive targets, this could be a key stock to watch in India’s financial space.
ALSO READ: HDFC-Backed HDB Financial IPO: Price, Dates & More
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