HDFC Bank hits a new all-time high; should investors book profits or take fresh positions?

HDFC Bank shares despite an overall steady market rallied to a new high in Wednesday's session (April 16, 2025) as Bank Nifty continued its gaining streak. After rising by a tad, the stock hit a new 52 week high of Rs 1,882.05 per share. Nonetheless, its shares drifted lower amid losses on the Street.

At around 12:02 pm, shares traded with a cut of 0.1 per cent or Rs 1.9 at Rs 1,863 per share.

Earlier, in the previous session the stock ended over 3 per cent higher at Rs 1,864.9 as Goldman Sachs remained optimistic on the private sector lender and signalled a 'buy' for a target price of Rs 2,087.

The brokerage maintained a 'buy' following the lender's announcement of a rate cut on the bank's savings account. For deposit account balances below Rs 50 lakh, the interest rate is kept as 2.75 per cent, while with accounts with balances over Rs 50 lakh it is 3.25 per cent.

Also Read: HDFC Bank climbs nearly 4% as Goldman Sachs reiterates buy for 16% potential gains

The new rates have become effective since April 12, 2025.

Also, at the same time it has changed rates on fixed deposits across tenures.

Brokerages remained bullish on HDFC Bank post its third-quarter results

Most brokerages turned optimistic on the lender post its December quarter results with brokerages including Sharekhan and Emkay seeing it to hit Rs 2,100 levels. Emkay noted that in the December quarter the country's leading lender lagged on the net profit front owing to slow credit growth as well as higher provisions.

Also, it pointed out that the bank is in the process of listing its financial services arm- HDB Financial Services.

However, near-term asset-quality woes could weigh on valuation; nevertheless the brokerage retains a 'buy' on HDFC Bank with unchanged TP of Rs2,100, valuing the standalone bank at 2.4x Dec-26E ABV and subs at Rs275/share, it added.

HDFC Bank technicals 

Jigar Patel, Sr. Manager- Equity Research- Anand Rathi said, "

The stock is currently trading near its previous high of 1880, which coincides with the R3 level of the yearly Camarilla pivot. This zone (1880–1900) is likely to act as strong resistance, making it an ideal range to consider booking profits."

Sustained buying interest and fresh upward momentum are expected only if the stock manages a weekly close above the 1900 mark. Until then, price action in this resistance zone may remain choppy or face rejection, indicating caution for new long positions, added Patel.

HDFC Bank Q4FY25 results announcement timeline

As per the BSE earnings calendar, the private sector lender is scheduled to report its Q4 earnings on April 19 (Saturday).

HDFC Bank share price performance 

HDFC Bank shares so far during the year have zoomed over 5 per cent, while Nifty50 during the same time has gained as much as 5 per cent.