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Last Updated : Aug 04, 2020 07:50 AM IST | Source: Moneycontrol.com

Buy Housing Development Finance Corporation; target of Rs 2113: Sharekhan

Sharekhan is bullish on Housing Development Finance Corporation has recommended buy rating on the stock with a target price of Rs 2113 in its research report dated July 30, 2020.

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Sharekhan's research repor on Housing Development Finance Corporation


HDFC Limited’s results were mixed with operational results better than expected (benefitted with stake sale proceeds) and sequentially improved asset quality.. Loans opted under moratorium 2 were at 22.4% of the overall book (from 27% as under moratorium 1 earlier). The decline in the moratorium book is lower than that observed with other peers.9+. HDFC had a one-time gain from stake sale in subsidiaries, which resulted in Rs. 1,241 crore benefit; and utilising the same, the corporation made provisions of Rs. 1,199 crore (Additional provisions for COVID-19).



Outlook


We maintain our Buy rating on the stock with an unchanged PT of Rs. 2,113.


For all recommendations report, click here


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First Published on Aug 4, 2020 07:50 am
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