Lifting of credit card ban may spark up to 32% rally in HDFC Bank

Published On: Wednesday, August 18, 2021 | By: Team KnowMyStock

The Reserve Bank of India has lifted the ban on the issue of new credit cards which may trigger an up to 32 percent rally in the HDFC Bank’s stock, according to analysts, as the lift has come ahead of the festive season, presenting an opportunity to capture market share. The HDFC Bank scrip surged 3 percent at Rs 1,564.75 on the BSE in intra-day trade today(18th August 2021) and was among the top gainers on the BSE barometer. In comparison, the S&P BSE Sensex was up 0.5 percent at 10:30 AM. Some analysts opine that the lender will be able to regain its lost market share of 180 bps or even more, as there is a large customer base to which it can cross-sell. Financially, the lifting of the ban will protect HDFC Bank's overall profitability as the credit card segment is the key earnings driver, says Motilal Oswal Financial Services.

Closing Bell: Sensex gains 85 points, Nifty at 18755.90

Closing Bell:Sensex gains 418 points, Nifty at 18716.15

MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

Closing Bell: Sensex down 223 points, Nifty at 18,563

MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

MARKET UPDATE: Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels

MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

MARKET UPDATE: Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels

Closing Bell: Sensex up 240 points, Nifty at 18593.85

MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

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