Merger deal may help HDFC, HDFC Bank hit record highs, 15% upside likely

Shares of HDFC Bank may hit the Rs 2,000-mark, while HDFC is likely to rally towards Rs 3,200.

Shares of HDFC and HDFC Bank zoomed sharply in intra-day deals on Monday after the boards announced the merger of the two behemoths. HDFC hit the 15 per cent upper circuit, while HDFC bank surged as much as 13 per cent. READ MORE

Other group stocks, HDFC Life Insurance Company and HDFC Asset Management Company also witnessed similar rallies. Both stocks jumped up to 7 per cent each.

HDFC Bank Limited (HDFCBANK)
Likely target: Rs 2,000
Upside potential:   16%

The Shares of HDFC Bank are attempting to conquer its all-time high placed at Rs 1,725