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 May 13, 2024, HDB stock price climbed to $55.90 with 1,000,692 million shares trading.

HDB has a beta of 0.34, meaning it tends to be less sensitive to market movements. HDB has a correlation of 0.03 to the broad based SPY ETF.

HDB has a market cap of $141.55 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, JGLO, CGXU, JEMA, OSEA.

HDB has underperformed the market in the last year with a price return of -15.7% while the SPY ETF gained +28.2%. However, in the short term, HDB had mixed performance relative to the market. It has outperformed in the last 3 months, returning +8.1% vs +5.8% return in SPY. But in the last 2 weeks, HDB shares have been beat by the market, returning -3.0% compared to an SPY return of +2.1%.

HDB support price is $54.92 and resistance is $56.09 (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.