Apr 03, 2013, 07.15 PM | Source: Moneycontrol.com
Nirmal Bang is bullish on Housing Development Finance Corporation (HDFC) and has recommended buy rating on the stock with a target price of Rs 950, in its April 03, 2013 research report.
, Nirmal Bang |
"HDFC Limited has consistently met the expectations of the market in terms of consistency while keeping the asset quality intact. In the present uncertain times, we expect the mortgage finance-major to continue to not only continue to with this trend going forward also.
We are confident of the fact that HDFC Limited would continue to grow its loan book at 18-20 per cent per annum over the next foreseeable future with stable spreads and robust asset quality. We value the mortgage business of the company at 3x FY’15E book value. Adding the value of subsidiaries and investment in group companies, we arrive at the target price of Rs 950 over the next 9 to 12 months," says Nirmal Bang research report.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies 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 here