1 week ago
HDFC Bank shares rise after $1.75 billion bond fundraising
HDFC Bank borrowed $1.75 billion by selling bonds to investors.
It did this through its branch in GIFT City.
Some bonds will last three years, while others will last five years.
After announcing the fundraising, the bank’s shares rose about 1%.
However, the share price has fallen significantly this year.
Analysts said the stock is still below important price-trend levels.
One analyst saw a possible bounce toward ₹755.
Another warned that a fall below ₹710 could lead to further declines.
HDFC Bank shares rose 1% to ₹732.60 in morning trade on 21 August.
The bank raised $1.75 billion through senior unsecured bonds issued via its GIFT City branch.
The fundraising comprised $500 million in three-year notes and $1.25 billion in five-year notes.
The bonds carry coupons of 5.159% and 5.401%, with settlement scheduled for 26 August.
Analysts said the stock remains technically weak, although a short-term rebound toward ₹755 is possible.
- Who
- HDFC Bank and investors who bought its bonds.
- What
- HDFC Bank raised $1.75 billion through dual-tranche senior unsecured bonds, while its shares rose 1% in morning trading.
- Where
- The bonds were issued through HDFC Bank’s GIFT City branch, and the shares traded on the NSE.
- When
- The bond issuance was announced on 20 August, and the share-price move occurred on Friday, 21 August; settlement is scheduled for 26 August.
- Why
- The bank conducted an international fundraising transaction by issuing bonds.
Potential Recovery
Continued Weakness
Near-term share-price direction
Potential Recovery
Jigar S. Patel said marginal improvement in the MACD histogram suggested early stabilisation, while Vipin Kumar said a bounce toward ₹755 could not be ruled out.
Continued Weakness
Both analysts described the overall technical structure as weak or negative, with the stock below key moving averages and selling pressure continuing.
Key price levels
Potential Recovery
Patel said a sustained move above ₹758 could improve momentum and support a recovery toward ₹790–810.
Continued Weakness
Kumar said a decisive close below ₹710 could drag the stock toward ₹660–655, while Patel identified ₹720–705 as crucial support.
Key facts
- Bond amount
- $1.75 billion
- Three-year notes
- $500 million with a 5.159% coupon
- Five-year notes
- $1.25 billion with a 5.401% coupon
- Share price move
- Shares rose 1% to an intraday high of ₹732.60 on 21 August
- Year-to-date performance
- Shares were down 26%, compared with a 7% fall in the Nifty 50
- Settlement date
- 26 August
- Technical support
- Analysts identified ₹720–705 as a key support zone, with ₹710 cited as a decisive downside level
Quotes
Jigar S. Patel
Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers
“"At the current juncture, the stock is hovering around the lower band of the mentioned congestion range, and the possibility of a bounce towards the ₹755 spot level cannot be ruled out. The overall chart structure remains negative, and a decisive close below ₹710 could drag the stock towards the ₹660–₹655 spot levels in the near term."”
livemint.com
“"The immediate resistance zone lies around ₹757–810, while ₹720–705 acts as crucial support. A sustained move above ₹758 could improve momentum and open the possibility of a recovery towards ₹790–810."”
livemint.com
Sources
Related news
HDFC Bank Shares Fall Below Rs 700, Brokerages Set Targets
HDFC Bank Raises $1.75 Billion Through Overseas Bond Issue
HDFC Bank Shares Flat Amid Carlisle Investors Report
HDFC Bank Shares Hit 52-Week Low as Experts See Downside
HDFC Bank Plans $1.75 Billion Senior Notes, Wins Ratings
HDFC Bank Underperforms in 2026, Analysts See Upside
India Draws Record $127 Billion Through Special FCNR Window
Major Banks Cut FCNR Deposit Rates After Subsidy Ends
Uber Driver Returns ₹37,000 Sent by Mistake, Refuses Reward
ICICI Bank Nears HDFC Bank as Nifty’s Top Influence
Brokerages Suggest HDFC Bank, PB Fintech, Parag Milk Foods
