“Motilal Oswal maintains a 'buy' rating on HDFC Bank, revising its target price to ₹925. The brokerage believes changes in the leadership team, coupled with an anticipated improvement in growth and earnings trajectory, will address investor skepticism and enhance sentiment. They estimate HDFC Bank to deliver improved earnings from FY28 onward, with RoA sustaining at approximately 1.8%.”

Motilal Oswal Analysis’s track record: 6 graded calls · 95% CI 19–81%