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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.
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