HDFC Bank Share: HDFC Bank’s shares have been witnessing a lot of growth for the last few days. Be it brokerage houses or mutual funds, everyone seems bullish on it. The country’s largest private bank is currently on the radar of ‘big money’. Market experts often advise that if you want to earn money, then you should follow the people who invest big money, i.e. big money.
According to a report by Moneycontrol, mutual funds have bought HDFC Bank shares worth Rs 7,600 crore in the month of May. The more important and worth knowing thing is that for the fifth consecutive month, mutual funds have continued to fill HDFC Bank shares in their portfolio. In April, mutual fund houses bought shares worth Rs 1,890 crore. In March, purchases worth Rs 4,600 crore were made, while in February, purchases worth Rs 8,432 crore were made. In January, HDFC Bank shares worth Rs 12,884 crore were snapped up.
Quants bought the most
According to the data of ACE equity, mutual fund houses bought 4.99 crore shares of HDFC Bank in May. By May, mutual fund houses now have 151.69 crore shares of the bank. In April, they had shares worth Rs 146.70 crore. In just one month, the value of these shares has increased from Rs 2.23 lakh crore to Rs 2.32 lakh crore.
41 mutual fund houses own HDFC Bank shares. Of these, 26 have increased their holdings, while 14 have reduced their stakes. Quants have bought shares worth Rs 2,669 crore in mutual funds, which is the highest. After this, ICICI Prudential Mutual Funds and Axis Mutual Funds have bought shares worth Rs 2,210 crore and Rs 982 crore respectively.
No agency has given ‘sell’ rating
On the other hand, recently BofA Securities had given a buy rating to HDFC Bank shares. This global financial firm gave a good rating estimating the company’s potential good growth. According to Bloomberg, currently 45 agencies have given a buy rating to this bank, while 5 have given it a hold rating. No one has advised to sell it.
