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Buy HDFC Bank; target of Rs 1869: LKP Research

LKP Research is bullish on HDFC Bank has recommended buy rating on the stock with a target price of Rs 1869 in its research report dated January 16, 2023.

January 16, 2023 / 11:55 AM IST
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LKP Research's research report on HDFC Bank

HDFC Bank reported stable operating performance in 3QFY23. In 3QFY23, the provisioning expenses were lower sequentially at ₹28bn (v/s ₹32.4bn 2QFY23). At the same time NII growth was strong (24.6% YoY, 9.4% QoQ) against the loan growth (19.5% YoY, 1.8% QoQ). Furthermore, the contingent stands adequate. The bank reported stable NIMs at 4.3%., the bank has reported sequential increase in PAT by 15.6% and ROA/ROE of 2.2%/18.3%. The reported GNPA is below the historical trend of 1.4% .


We believe, superior underwriting practices, higher liquidity, adequate coverage and strong capital position makes the bank well placed and we recommend BUY with price target of ₹1869.

For all recommendations report, click here

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HDFC Bank r - 16 -01-2023 - lkp

Broker Research
first published: Jan 16, 2023 11:55 am