HDFC Bank shares in focus after Sebi issues warning letter for regulatory non-compliance
HDFC Bank will be in focus on Thursday after the Securities and Exchange Board of India (Sebi) issued an administrative warning letter to the banking major on Wednesday for regulatory non-compliance.
This follows a periodic inspection of the bank's custody activities, during which Sebi found alleged non-compliance with specific regulatory guidelines for custodians, as stated in a regulatory filing by the bank.
HDFC Bank mentioned that it would take appropriate steps to address the issues highlighted in the letter.
Earlier, in December 2024, Sebi had also issued an administrative warning letter to the bank for non-compliance related to its merchant banking activities.
HDFC Bank target price
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A strong buy recommendation is shared by 41 analysts for HDFC Bank, with a target price of Rs 2,009 and a potential upside of 12% over the next year.
HDFC Bank share price
Shares of the company rose 21.4% and outperformed its sector by 11.8% in the past year. Meanwhile, the stock has offered 19% and 116% returns in the last three and five years, respectively. According to Trendlyne data, HDFC Bank has better one year returns than Sector, Industry, Nifty50, and Sensex
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Read on economictimes.indiatimes.com