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Buy HDFC Bank; target of Rs 2284: Nalanda Securities

Nalanda Securities bullish on HDFC Bank has recommended buy rating on the stock with a target price of Rs 2284 in its research report dated October 22, 2018.

October 22, 2018 / 04:46 PM IST
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Nalanda Securities' research report on HDFC Bank

Deposits grew 3.4% QoQ to 8333.6bn driven by CA growth of 5.3% QoQ at 1151.3bn, SA growth of 3.5% QoQ at 2345.7bn and term deposit growth of 2.9% QoQ at 4836.7bn. CASA ratio improved from 41.7% in Q1FY19 to 42% in current quarter.


Stock is trading at FY20E P/ABV of 3.9x, we assign strong buy rating and value stock at P/ABV of 4.5x implying an upside potential of 16% and a target price of INR 2284.

For all recommendations report, click here

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Broker Research
first published: Oct 22, 2018 04:46 pm

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