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Buy HDFC Bank, target of Rs 1860: Sharekhan

Published on Thu, Oct 15, 2009 at 16:49   |  Updated at Thu, Oct 15, 2009 at 16:55  |  Source : Moneycontrol.com
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Sharekhan has recommended a buy rating on HDFC Bank with a price target of Rs 1860, in its report dated October 14, 2009. The stock closed at Rs 1724.95.

"At the current market price of Rs 1,703, HDFC Bank trades at 20.8x FY2011E earnings per share, 9.6x2011E pre-provisioning profit and 3.6x FY2011E priceadjusted book value. We maintain our 'Buy' recommendation on the stock with price target of Rs 1860 and shall return soon with a detailed analysis of the bank’s Q2FY2010 performance," says Sharekhan's 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 Sharekhan.pdf

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