Buy HDFC Bank; target of Rs 2750: Sharekhan

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Sharekhan's research report on HDFC Bank

HDFC Bank saw another strong quarter with NII growth of 22.8% y-o-y, NIM improved by 10 BPS QoQ to 4.4%, Notably, its Cost to Income (C/I) and asset-quality performance improved too. Strong underwriting and assessment capabilities and healthy traction from digital channels add to its business strength.

Outlook

We maintain our Buy rating on the stock of HDFC Bank with a revised PT of Rs 2750.

For all recommendations report, click here

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