Apr 12, 2013, 10.30 AM | Source: CNBC-TV18

Buy HDFC Bank, says Sudarshan Sukhani

One can buy HDFC Bank, says Sudarshan Sukhani of s2analytics.com.

One can buy HDFC Bank, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, " HDFC Bank is giving a sign of life after a choppy decline. It has made a bullish ascending triangle, broken out yesterday. So, yesterday it was an outperformer. Therefore, once HDFC Bank starts an outperformance that continues. It is a favourite for foreign institutional investors (FIIs), so there is some reason to feel that this sense of favouritism is going to persist. I think it is one of the better buying opportunities in the banking sector."

At 09:49 hrs HDFC Bank was quoting at Rs 645.05, up Rs 6.50, or 1.02 percent. It has touched an intraday high of Rs 645.90 and an intraday low of Rs 636.60.

The company's trailing 12-month (TTM) EPS was at Rs 84.40 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 7.65. The latest book value of the company is Rs 125.79 per share. At current value, the price-to-book value of the company was 5.13. The dividend yield of the company was 0.67 percent.

Disclosure: Sudarshan Sukhani has no holdings in the stock discussed.

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