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Accumulate HDFC Bank, target of Rs 1770: Angel

Published on Tue, Oct 20, 2009 at 11:10   |  Updated at Tue, Oct 20, 2009 at 11:12  |  Source : Moneycontrol.com
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Angel Broking has maintained its accumulate rating on HDFC Bank with a target price of Rs 1770 in its October 14, 2009 research report. At 11:07 am, the share was quoting at Rs 1,701.80, down Rs 1.6, or 0.09%.

"HDFC Bank recorded a net profit growth of 30% yoy to Rs 687 crore, in line with our estimates. The Slow balance sheet and NII growth was compensated by strong treasury gains and better cost control during the quarter. We maintain an 'Accumulate' on the stock, with a target price of Rs 1,770," says Angel Broking's research report.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.


To read the full report click on the attachment......

Attachments : HDFC Bank-RU2QFY2010-141009.pdf

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