Kotak Upgrades HDFC Bank Stock, Foreseeing 'Limited Downside'

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Kotak Upgrades HDFC Bank to 'Buy' Despite Market Sell-off, Sees 25% Upside

Kotak Upgrades HDFC Bank to 'Buy' Despite Market Sell-off, Sees 25% Upside

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CNBC TV18•09-03-2026, 09:33

Kotak Upgrades HDFC Bank to 'Buy' Despite Market Sell-off, Sees 25% Upside

•HDFC Bank shares fell over 4% on Monday, March 9, amid a broader market sell-off.
•Kotak Institutional Equities upgraded HDFC Bank's rating from 'add' to 'buy'.
•The brokerage set a price target of ₹1,050 per share, implying a 25% upside potential.
•Upgrade driven by HDFC Bank's recent underperformance and widened valuation discount to peers.
•Kotak notes liability constraints and the need for NIM expansion for a full re-rating.

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