HDFC Bank trades a price-tobook value of 4.57, the highest among private banks, which trade at an average P/B of 2.2 times.
The public issue consists of up to 29,300,000 equity shares of face value of Rs 10 each. The issue size is estimated to be around Rs. 1200 crore.
The brokerage is overweight on the stock with a target price of Rs 1,600. It expects earnings growth to accelerate and premium valuations to sustain.
HDFC Securities has reiterated its positive stance on the stock despite the recent bulk sale by Jhunjhunwala.
Shares of GVK have fallen 2% and GMR's have risen 30%in the last one year against the Sensex's gain of 23.3% in the same period.
Stocks that get included in the MSCI indices tend to attract foreign inflow based on the weightage assigned to them in the index.
NIFTY ended flat up by 0.6% trading in narrow range of 107 points despite a perceived negative event, in which RBI maintained status quo on interest rates.
The stock could see further upsides in the coming months IGL shares rose up to 4.8% to Rs 1,026 on Thursday, its highest intra-day increase since December 15 last year.
Indian markets are a few percentage points away from record high but in the context of strong growth possibilities, the valuations are not expensive, said Khemani,
Affordable housing led sectors are expected to gain a lot this year, says Jinesh Gopani, senior fund manager, Axis Mutual Fund
- No blogs yet have been written by the author, we’re sure the author will contribute one soon