Buy HDFC Bank; target of Rs 2750: Sharekhan

Sharekhan is bullish on HDFC Bank has recommended buy rating on the stock with a target price of Rs 2750 in its research report dated July 22, 2019.

Broker Research

July 23, 2019 / 13:51 IST

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Sharekhan's research report on HDFC Bank

HDFC Bank (HDFCB) posted a mixed performance during Q1FY2020. The bank reported strong operating performance, which was offset by soft NIM and higher provisions. Management chose to be pragmatic about growth and provision cover, does not expect a significant change in business mix and has guided to improve C/I ratio by ~300 BPS over the same period.

Outlook

We maintain our Buy rating on the stock with an unchanged PT of Rs. 2,750.

For all recommendations report, click here

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Broker Research

first published: Jul 23, 2019 01:51 pm

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