Sushil Finance's report on HDFC Bank
"HDFC Bank, healthy advances growth, better NIMs coupled with stable asset quality has helped bank deliver good set of numbers in the current quarter. Strong execution coupled with well-defined strategy has enabled bank to deliver above industry growth in such precarious economic scenario. Going forward, with revival in economy & higher contribution from rural penetration, we expect bank to post strong growth going forward. Minimal exposure to stress sectors & lower restructuring book is likely to keep asset quality intact. Hence, considering the sound fundamentals & strong growth prospects, we remain positive on the stock & recommend ‘Accumulate’ with a revised price target of Rs 1200 based on our FY17E estimates", says Sushil Finance research report.
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