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Last Updated : Sep 23, 2019 03:50 PM IST | Source: Moneycontrol.com

Buy HDFC Bank; target of Rs 1510: Sharekhan

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 September 20, 2019.

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Sharekhan's research report on HDFC Bank


Structural drivers are in place for HDFC Bank, which augur well for its long-term growth and profitability. We expect market share gains trajectory to continue, aided by operational efficiencies and best-in-class asset quality, helped by the weakened competitive environment. HDFC Bank is well placed to benefit from the slew of stimulus measures by government and the regulator of late. This will see better growth opportunities along with less pressure on pricing. We have re-worked our estimates and expect EPS benefit in low teens for HDFC Bank in our revised FY2020E/FY2021E profit estimates.


Outlook


We maintain our Buy rating on the stock with a revised PT of Rs. 1,510.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.



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First Published on Sep 23, 2019 03:50 pm
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