STOCKS | JM Financial Predicts Limited Upside for HDFC Bank Amid Sector Challenges

JM Financial has projected a cautious outlook for HDFC Bank's stock in the near term, expecting it to trade between Rs 900 and Rs 970 with limited potential for gains. According to NS3.AI, the brokerage advises holding the stock with a stop loss set at Rs 895, considering the broader market dynamics. The Nifty 50 index is anticipated to encounter resistance at 26,000. Sector-specific challenges, such as stronger loan growth by public sector banks and margin pressures on private banks like HDFC, contribute to this conservative guidance.