HDB Stock Summary and Trading Ideas (HDFC Bank | NYSE:HDB)

HDFC Bank Ltd is a large, publicly traded Indian bank. There are three units: retail banking, wholesale banking, and treasury. Retail banking services are offered through numerous branches and ATMs. Wholesale focuses on Indian corporations, and the treasury unit offers risk-management services, such as foreign exchange trading.

HDFC Bank trades on the NYSE stock market under the symbol HDB.

As of April 26, 2024, HDB stock price climbed to $58.34 with 1,253,046 million shares trading.

HDB has a beta of 0.41, meaning it tends to be less sensitive to market movements. HDB has a correlation of 0.04 to the broad based SPY ETF.

HDB has a market cap of $147.73 billion. This is considered a Large Cap stock.

In the last 3 years, HDB stock traded as high as $79.39 and as low as $50.61.

The top ETF exchange traded funds that HDB belongs to (by Net Assets): XCEM, CGXU, JEMA, TMFG, OSEA.

HDB has underperformed the market in the last year with a return of -14.1%, while the SPY ETF gained +26.8%. In the last 3 month period, HDB fell short of the market, returning +3.4%, while SPY returned +4.5%. However, in the most recent 2 weeks HDB has outperformed the stock market by returning +0.6%, while SPY returned -1.9%.

HDB support price is $57.46 and resistance is $59.20 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that HDB stock will trade within this expected range on the day.