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.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Realasset
moneycontrol.com

Home » News » Business

Feb 22, 2013, 06.50 PM | 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.

Like this story, share it with millions of investors on M3

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.

Post Your Comments

Share Cancel

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 May 27, 2016, HDFC Bank closed at Rs 1187.35, up Rs 5.90, or 0.50 percent. The 52-week high of the share was Rs 1189.65 and the 52-week low was Rs 928.80.


The company's trailing 12-month (TTM) EPS was at Rs 48.62 per share as per the quarter ended March 2016. The stock's price-to-earnings (P/E) ratio was 24.42. The latest book value of the company is Rs 245.19 per share. At current value, the price-to-book value of the company is 4.84.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Goldman Sachs downgrades HDFC to sell from neutral

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login