Moneycontrol
Get App
Last Updated : Feb 25, 2019 09:25 AM IST | Source: Moneycontrol.com

CLSA bullish on HDFC and HDFC Bank, expects 25-30% upside

In case of Housing Development Finance Corporation (HDFC), CLSA said housing demand is largely stable despite recent events in financial markets and the stock is among its top picks in the financial sector.

Moneycontrol News @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Global research house CLSA stays bullish on HDFC Group stocks and expect 25-30 percent potential upside going ahead.

It has a buy rating on both HDFC as well as HDFC Bank with a price target at Rs 2,360 and Rs 2,730 apiece.

In the case of Housing Development Finance Corporation (HDFC), CLSA said housing demand is largely stable despite recent events in financial markets and the stock is among its top picks in the financial sector.

Close

It sees scope for healthy growth and market share gains as peers consolidate. Return on equity of HDFC should expand as leverage is optimised, it feels.

In the case of HDFC Bank, the research house said, the NBFC crisis is largely behind, but consolidation could take another 1-2 years. The bank is pushing CASA growth via new channels, it added.

The succession planning is underway, but Managing Director, Aditya Puri can get an extension if the age limit is raised to 75 years, it said.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Feb 25, 2019 09:17 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant