Lifting of credit card ban may spark up to 32% rally in HDFC Bank: Analysts

The Reserve Bank of India’s (RBI’s) nod to lift ban on issue of new credit cards may trigger an up to 32 per cent rally in the lender’s stock, believe analysts, as the lift has come ahead of festive season, presenting an opportunity to capture market share.

The scrip surged 3 per cent at Rs 1,564.75 on the BSE in intra-day trade on Wednesday and was among the top gainers on the BSE barometer. In comparison, the S&P BSE Sensex was up 0.5 per cent at 10:30 AM.

Analysts at Macquarie, for instance, opine that the lender will be