Sharekhan is bullish on HDFC Bank has recommended buy rating on the stock with a target price of Rs 1510 in its research report dated October 22, 2019.
Sharekhan's research report on HDFC Bank
Earnings performance was strong with robust growth in profit after tax (PAT) helped by better efficiencies, fee income and a lower tax rate. Sequentially, NPA performance was stable, with GNPAs improving by 2 bps to 1.4%. We believe that structural drivers are well in place for the bank, helping it achieve market share gains, aided by operational efficiencies and best-in-class asset quality.
We maintain our Buy rating on the stock with a revised PT of Rs. 1,510.
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