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Buy HDFC Bank; target of Rs 1700: ICICI Direct

ICICI Direct is bullish on HDFC Bank has recommended buy rating on the stock with a target price of Rs 1700 in its research report dated April 24, 2017.

April 25, 2017 / 05:05 PM IST
 
 
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ICICI Direct's report on HDFC Bank


HDFC Bank, India’s second largest private bank, has grown its balance sheet at 23% CAGR to Rs 400000 crore in FY07-13 maintaining its profit growth of 30% CAGR to Rs 6726 crore.


Outlook


We maintain BUY rating. We believe investors would continue to prefer high quality retail private banks owing to their strong visibility & consistency in earnings.


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first published: Apr 25, 2017 05:05 pm

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