Feb 22, 2013, 06.50 PM IST
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 December 06, 2013, HDFC Bank closed at Rs 682.30, up Rs 0.00, or 0.00 percent. The 52-week high of the share was Rs 727.00 and the 52-week low was Rs 528.00.
The company's trailing 12-month (TTM) EPS was at Rs 31.65 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 21.56. The latest book value of the company is Rs 151.32 per share. At current value, the price-to-book value of the company is 4.51.
Action in HDFC Bank
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