Moneycontrol News
Global research firm CLSA is betting on HDFC, citing attractive valuations as well as acceleration in earnings growth head.
It has a buy call on the stock with a target of Rs 2,200 and said that the stock was among top picks in the sector.
Further, CLSA highlighted positives such as how the housing finance institution plans to have a few new high-RoE business initiatives. It also expects the core operating profit to be estimated at 20 percent CAGR over FY18-21.
In fact, it believes that the concern of competitive pressure is exaggerated.
The stock has fallen 5 percent in the past one month, while its three-day movement was a flat trade.
At 12:55 hrs Housing Development Finance Corporation was quoting at Rs 1,827.95, down Rs 3.80, or 0.21 percent. It has touched an intraday high of Rs 1,835.00 and an intraday low of Rs 1,820.65.
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