Large Cap Bank Stock To Consider Dividend On April 15, Brokerage Bullish

Board of large cap bank stock, HDFC Bank Ltd is all set to consider the proposal for interim dividend on equity shares for the financial year ended March 31, 2023. Last trading price of HDFC Bank is Rs 1658.10 apiece on BSE. The stock gave return of 17% in last 6-months. Meanwhile, Sharekhan has assigned buy call with target price of Rs 1920 apiece. Check details below:

HDFC Bank Ltd To Consider Dividend: According to the regulatory filing of the banking company, "In continuation of our intimation dated March 30, 2023 regarding conducting the meeting of the Board of Directors of HDFC Bank Limited ("the Bank") on Saturday, April 15, 2023, we wish to inform you that at the said meeting, the Board will inter alia consider a proposal for recommendation of dividend on the equity shares of the Bank for the financial year ended March 31, 2023."

HDFC Bank Ltd Stock Performance & Return: The stock's last trading price as of April 10, 2023 is Rs 1658.10 apiece with intraday dip of 0.49%. The stock's 52-week high price is quoted at Rs 1702.00 apiece and 52-week low price is quoted at Rs 1271.75 apiece, respectively. The company's market capitalisation is Rs 9,25,177.15 crore.

The stock gave 9% in last 1-year, 16% in last 2-years, and 79% in last 3-years. It jumped 72% in last 5-years. In last 10-years, HDFC Bank shares soared 425%.

Buy Call: Leading brokerage house Sharekhan has recommended investors to buy HDFC Bank share with target price of Rs 1920 apiece. If you buy HDFC Bank stock now, you can get likely upside of 16%. The analyst said, "HDFC Bank reported strong business performance in Q4FY2023 in terms of loan growth as well as deposit growth. The trend remained healthy on a sequential basis as well. We maintain our Buy rating on the stock with an unchanged PT of Rs. 1,920."

HDFC Bank Ltd About: HDFC Bank is one of India's leading private banks and was among the first to receive approval from the Reserve Bank of India (RBI) to set up a private sector bank in 1994. As of December 31, 2022, the Bank had a nationwide distribution network of 7,183 branches and 19,007 ATMs / Cash Deposit & Withdrawal Machines (CDMs) across 3,552 cities / towns, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Sharekhan. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.