JM Financial maintains Buy on HDFC Bank, raises target price to Rs 2,130 Jobbery Stock Market update New

JM Financial maintains a buy call on HDFC Bank, revising the target price to Rs 2,130, anticipating loan growth, stable asset quality, and improved NIM to drive valuation. The bank reported a consolidated total income of Rs 120268.76 crore for the quarter ended March 2025 and expects reasonable RoA/ROE of ~1.7%/14% in FY26-27E.