Section 1: Company Fundamentals

1.1 Company Overview and Performance summary

Company Overview:

HDFC Bank Limited (NYSE: HDB) (the Bank) is a financial services conglomerate that offers a full suite of financial services, from banking to insurance, and mutual funds through its subsidiaries. The Bank caters to a range of banking services covering commercial and investment banking and transactional/branch banking.

This US Inflation Report covers the Company Overview & Price performance, Summary table, Key positives & negatives, Key metrics, Company details, technical guidance & Stock recommendation, and Price chart.

Price Performance:

• HDB's share price has given a mere return of 3.20% in the past three months. On the other hand, in the long term, the stock has corrected by 14.98% over the past year.
• The stock is currently trading near to the lower end of its 52-week range of USD 03 and 52-week low price of USD 52.16, with the expectations of an upside movement from the current support levels of USD60.
• The price is currently around its short-term (50-day) SMA and long-term (200-day) SMA, with the current RSI of around 45.98.

1.2 Summary Table

1.3 The Key Positives & Negatives

Section 2: HDFC Bank Limited (“Buy” at the closing market price of USD 60.20, as of July 25, 2024)

2.1 Company Details

2.2 Technical Guidance and Stock Recommendation  

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is July 25, 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: The report publishing date is as per the Pacific Time Zone.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

 Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

 Stop-loss: It is a level to protect against further losses in case of unfavorable movement in the stock prices.