HDFC Bank shares slip 2% after hitting fresh record high; here's what analysts say

Shares of HDFC Bank Ltd rose 0.82 per cent in Wednesday's intraday trade to hit an all-time high of Rs 1,977.95. The stock eventually settled 1.98 per cent lower at Rs 1,923.10 as the session approached closure. At this closing price, HDFC Bank has climbed 10.80 per cent in the last six months.

On the earnings front, the country's largest private lender reported a net profit of Rs 17,616 crore, marking a year-on-year (YoY) growth of 6.7 per cent for the March 2025 quarter. HDFC Bank's net interest income (NII) also saw an increase of 10.3 per cent YoY, at Rs 32,070 crore.

"Investors with a long-term view can buy this stock. Those holding should continue with their positions as banks are better-positioned to take advantage of the current market growth," said Kranthi Bathini, Director of Equity Strategy at WealthMills Securities.

Technically, an analyst said the counter witnessed profit booking today and advised market participants to wait for Rs 1,860–1,830 levels for fresh accumulation.

"HDFC Bank witnessed some profit booking after fresh highs. The stock has recently seen a sharp rally but current technical indicators suggest that momentum may be cooling off. Investors are advised to wait for a retracement towards the Rs 1,860–1,830 zone, which offers a favourable risk-reward setup. This zone may act as a strong support for fresh accumulation, provided that the broader market sentiment remains stable," said Ameya Ranadive, CMT, CFTe, Senior Technical Analyst at StoxBox.

"Support will be at Rs 1,900 and resistance at Rs 1,980. A decisive move above Rs 1,980 level may trigger a further upside of Rs 2,060. The expected trading range will be between Rs 1,875 and Rs 2,060 for the short term," said Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi.

The scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 66.49. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the stock has a price-to-earnings (P/E) ratio of 22.21 against a price-to-book (P/B) value of 3.20. Earnings per share (EPS) stood at 86.57 with a return on equity (RoE) of 14.39. According to Trendlyne data, HDFC Bank has a one-year beta of 0.9, indicating low volatility.