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HomeMarket NewsHDFC Bank shares are already having their best year since 2019 — Where is the stock headed next?
With this move, HDFC Bank's shares have gained 14% so far in 2025, which has already made it the best year that the stock has had since 2019, when it gained 20%.
Shares of HDFC Bank Ltd. ended at a record high on Thursday, June 26. The stock also crossed the mark of ₹2,000 in Thursday's trading session.
The stock of India's largest private lender, has gained in six out of the last seven trading sessions, enroute to a record high.
HDFC Bank was also the top contributor to the Nifty 50's 300-point advance on Thursday, contributing 55 points to the upmove.
With this move, HDFC Bank's shares have gained 14% so far in 2025, which has already made it the best year that the stock has had since 2019, when it gained 20%.
However, the stock has never delivered negative annual returns since 2013.
| Year | Returns |
| 2025 (So Far) | 14% |
| 2024 | 4% |
| 2023 | 5% |
| 2022 | 10% |
| 2021 | 3% |
| 2020 | 13% |
| 2019 | 20% |
On a monthly basis, the stock has gained 4% so far in June, making it the third-best month of the calendar year so far. Barring January, the stock has gained in all five remaining months of the year so far.
The last instance of HDFC Bank's shares gaining five months in a row, was back in 2017, when they had gained for seven months straight.
With the stock having hit a record high, where is it now headed? Does it have more upside in store?
"HDFC Bank continues to exhibit strength as it breaks out firmly from its near-term consolidation band of ₹1,900 – ₹1,980, reaffirming the steady nature of its major trend. The daily ADX indicator is now turning upward and is on the verge of crossing the key 25 mark, indicating the possibility of enhanced directional momentum in the coming weeks," Sacchitanand Uttekar of Tradebulls told CNBC-TV18.
"On the weekly chart, a bullish flag continuation pattern further supports the view of an ongoing uptrend, projecting potential upside targets of ₹2,186 and ₹2,220. Derivatives data also aligns with this outlook, with strong put writing seen in the ₹1,960 – ₹1,940 zone, establishing a solid base, while the upside remains open towards ₹2,100 and even ₹2,200. As long as the stock sustains above its 5-month EMA support at ₹1,910, we recommend a buy-on-dips approach for a potential move towards ₹2,220.
Out of the 49 analysts who have coverage on HDFC Bank, 45 of them have a "buy" rating, while the other four have a "hold". HDFC Bank does not have a "sell" recommendation from analysts.
Adding to the sentiments is also the IPO of its non-bank lending unit HDB Financial Services, which has been fully subscribed towards the second day of bidding.
"At the current stage, HDFC Bank has broken out of a long-standing triangle pattern, which often signals the beginning of a strong directional move. This breakout indicates a potential continuation of upside," Jigar Patel of Anand Rathi.
"A weekly close above ₹1,990 would confirm this bullish breakout and pave the way for a potential rally toward the ₹2,100 mark," he added.
Shares of HDFC Bank ended 1.9% higher on Thursday at ₹2,017.7.
Also Read: HDB Financial IPO Day 2 Live Updates: ₹12,500 crore issue fully subscribed; Retail at 60%
