HDFC available at attractive valuation, can see 20% upside: CLSA

Housing Development Finance Corporation (HDFC) share price gained 1.6 percent intraday Friday after global brokerage firm CLSA feels earnings growth of the company will accelerate & the stock is available at an attractive valuation.

The research house has maintained Buy call on the stock with a target price at Rs 2,200 per share, saying the housing finance company is among top picks in the sector.

"Core operating profit is estimated to see a 20 percent CAGR over FY18-21. Sustainable core return on equity of 18-20 percent will aid in its rerating," CLSA said.

At 11:51 hours IST, the stock price was quoting at Rs 1,840.25, up Rs 6.90, or 0.38 percent on the BSE.