Feb 22, 2013, 06.50 PM IST | Source: Moneycontrol.com

Goldman Sachs downgrades HDFC to sell from neutral

Shares of Housing Development Finance Corporation (HDFC) fell nearly 3 percent on Friday after the research firm Goldman Sachs cut its rating on the stock to sell from neutral, on expectations that India's economy would recover at a modest pace and the prospect of rising competition.

Shares of Housing Development Finance Corporation (HDFC) fell nearly 3 percent on Friday after the research firm Goldman Sachs cut its rating on the stock to sell from neutral, on expectations that India's economy would recover at a modest pace and the prospect of rising competition.

Goldman also downgraded its target price on HDFC to Rs 740 from Rs 790.

The research firm expects rising competition in the housing finance sector to lead to a contraction in market share and compression in spreads.

At 10:37 hours IST, shares dropped 2.81 percent to Rs 792.45 on Bombay Stock Exchange.

(With inputs from Reuters)

HDFC Bank stock price

On April 17, 2014, at 10:07 hrs HDFC Bank was quoting at Rs 709.30, down Rs 15.95, or 2.2 percent. The 52-week high of the share was Rs 760.50 and the 52-week low was Rs 528.00.


The company's trailing 12-month (TTM) EPS was at Rs 33.52 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 21.16. The latest book value of the company is Rs 150.97 per share. At current value, the price-to-book value of the company is 4.70.

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