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Stock Investors Bid Up Shares of HDFC Bank, Up 2.5%

Published on Wed, 05/15/2013 - 10:18
By Adrienne Chilton

HDFC Bank (NYSE:HDB) is a company whose shares are active, trading 2.5% higher to $43.48. The Dow is trading fractionally lower to 15,198 and the S&P is currently trading fractionally lower to 1,649.

HDFC Bank Ltd. offers a wide range of services to the global corporate sector. The Bank provides corporate banking and custodial services and is active in the treasury and capital markets. HDFC also markets project advisory services and capital market products such as Global Deposit Receipts, Euro currency loans, and Euro currency bonds.

HDFC Bank has overhead space with shares priced $43.48, or 9.4% below the average consensus analyst price target of $48.00. HDFC Bank shares have support at the 50-day moving average (MA) of $39.49 and additional support at the 200-day MA of $38.53.

HDFC Bank share prices have moved between a 52-week high of $43.81 and a 52-week low of $27.30 and are now trading 59% above that low price at $43.48 per share. The 200-day and 50-day moving averages have moved 0.38% higher and 0.68% higher over the past week, respectively.

By Adrienne Chilton
achilton@fnno.com