Brokerages Turn Bullish On HDFC Bank Shares, Check The Highest Return You Can Get

HDFC Bank received a major sentiment boost after law firms found no evidence supporting governance-related allegations made by its former part-time chairman. The clean review has improved investor confidence, while global brokerages including JPMorgan, Morgan Stanley and Jefferies remain positive on the stock with higher target prices. Gaurav Sharma, Associate VP & Head of Research, Globe Capital, believes these developments support a gradual recovery rather than a sharp rally. He expects the stock to strengthen if it sustains above key technical levels but remains cautious on the aggressive brokerage targets, saying those levels may not be achievable over the next several months.