(Reuters) -Indian shares inched higher on Thursday, led by Adani Group stocks and heavyweight HDFC Bank, while IT firms slipped amid resurgent uncertainties over the trajectory of U.S. interest rate cuts.

An analyst tracking HDFC Bank has a price target of as high as ₹2,550 on the stock, which implies a potential upside of 40% from current levels.

HDFC Bank stock hit its record high of Rs 1836.10 on Thursday amid a big correction in the broader market. Market cap of the bank stood at Rs 14.01 lakh crore today.

HDFC Bank's market capitalisation surpassed ₹14 lakh crore for the first time on November 28, with its stock reaching a new high of ₹1,836.05.

In the past six months, HDFC Bank has outperformed the market by surging nearly 20 per cent, as compared to 6.7 per cent rise in the BSE Sensex.