HDFC Bank share price hits record high; should you buy the stock ahead of Q4 results?

HDFC Bank share price hit a fresh all-time high of ₹1,882.05 in intraday trade on BSE on Wednesday, April 16, looking set to extend gains to the third consecutive session. HDFC Bank shares opened at ₹1,882 against their previous close of ₹1,864.90 and soon climbed to its lifetime high of ₹1,882.05. Around 10:05 AM, the banking stock traded 0.60 per cent up at ₹1876.10. Equity benchmark Sensex was 0.12 per cent up at ₹76,830 at that time.

Please note that this lifetime high price of HDFC Bank includes price adjustment after a stock split on 19 September 2019.

HDFC Bank share price trend

Despite market volatility, HDFC Bank's share price has seen healthy gains this year. As of the previous session's (April 15) close, the stock had jumped 5 per cent in the calendar year 2025, against a nearly 2 per cent decline in the equity benchmark Sensex.

The banking heavyweight stock hit a 52-week low of ₹1,430.15 on May 13 last year.

On a monthly scale, the stock is up for the third consecutive month, gaining about 2 per cent in the current month until the previous session, after clocking gains of 6 per cent in March and 2 per cent in February.

HDFC Bank Q4 result preview

HDFC Bank will disclose its March quarter (Q4FY25) results on Saturday, April 19.

Experts expect the bank to report improved asset quality and a decent rise in net interest income (NII). However, the margin may see a mild decline.

According to brokerage firm Motilal Oswal Financial Services, HDFC Bank may report a 5.5 per cent year-on-year (YoY) rise in NII and a 3 per cent increase in net profit.

Motilal expects the bank's operating profit to decline by nearly 13 per cent YoY.

On the other hand, brokerage firm Nuvama expects HDFC Bank's NII to grow 2 per cent QoQ and 7.5 per cent YoY, but margins to decline by 3 bps QoQ and 4 bps YoY.

"Trading gains are expected to be significantly higher QoQ. Loan and deposit growth is likely to be at 1.2 per cent and 4.2 per cent, respectively," said Nuvama.

HDFC Bank: Should you buy this stock ahead of Q4 results?

Experts appear positive about the stock for the long term due to the bank's strong fundamentals and healthy growth prospects.

Recently, global brokerage firm Goldman Sachs has retained its 'buy' rating on HDFC Bank, with a target price of ₹2,087 apiece. Goldman Sachs has reiterated its views after HDFC Bank lowered its savings deposit interest rates. 

HDFC Bank has reduced the rate by 25 basis points to 2.75 per cent for balances below ₹50 lakh — marking the first such cut since June 2020.

Domestic brokerage firm Ventura Securities recently initiated coverage on the stock with a ‘buy’ rating and a SOTP-based target price of ₹2,350 (2.8 times FY27E P/BV) over the next 24 months.

"With merger blues behind, there is visibility on recovery of metrics to pre-merger levels. Over FY24-FY27E, HDFC Bank is expected to deliver strong financial growth, with assets under management and deposits growing significantly while improving asset quality and profitability," the brokerage firm said.

Technical experts also appear positive about the stock for the short to medium term.

"Due to strong fundamentals and technical structure, HDFC Bank remains a promising candidate for medium-term gains," said Mandar Bhojane, an equity research analyst at Choice Broking.

Bhojane pointed out that HDFC Bank has recently touched a fresh record high, signalling strong bullish momentum. However, the stock faces resistance near ₹1,880, with visible selling pressure from the day's high.

This has resulted in a bearish candlestick pattern on the chart, indicating profit booking after a sharp upward gap. Despite the pullback, the long-term structure remains positive.

Technically, Bhojane believes the stock is well-supported, around ₹1,820 and ₹1,800 levels.

"If it sustains above these supports, the uptrend is likely to continue with potential upside targets of ₹1,920 and ₹1,960," said Bhojane.

The RSI is at 65.7, reflecting healthy momentum, while a positive crossover in the Stochastic RSI indicates fresh bullish interest. Additionally, Bhojane pointed out that HDFC Bank is trading above its 20, 50, 100, and 200-day EMAs, confirming the overall strength in the trend.

"Investors and traders can consider accumulating the stock on dips, particularly in the range of ₹1,835– ₹1,800, which offers a favourable risk-reward setup. A stop loss below ₹1,780 is advised for risk management," said Bhojane.

However, some experts highlight the stock is trading near a crucial resistance zone, and a weekly close above the ₹1,900 mark could signal a fresh uptrend.

According to Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, the stock is trading near its previous high of ₹1,880, coinciding with the R3 level of the yearly Camarilla pivot.

Patel believes the zone of ₹1,880–1,900 will likely 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 ₹1,900 mark. Until then, price action in this resistance zone may remain choppy or face rejection, indicating caution for new long positions," said Patel.

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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.