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Buy HDFC Bank, target Rs 2,280: Jay Thakkar

Buy HDFC Bank Ltd. at a price target of Rs 2280.0 and a stoploss at Rs 2195 from entry point.|
Updated: Aug 19, 2019, 09.06 AM IST
Jay Thakkar of Anand Rathi has a buy call on HDFC Bank Ltd. with a target price of Rs 2280. The current market price of HDFC Bank Ltd. is Rs 2226.65. Time period given by analyst is Intra Day when HDFC Bank Ltd. price can reach the defined target. Jay Thakkar recommended to keep stoploss at Rs 2195. HDFC Bank Ltd., incorporated in 1994, has a market cap of Rs 608826.25 crore.

HDFC Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 77544.19 Crore to Sales Value (78.34 % of Total Sales), Income From Investment which contributed Rs 19997.46 Crore to Sales Value (20.20 % of Total Sales), Interest which contributed Rs 794.70 Crore to Sales Value (0.80 % of Total Sales) and Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 635.70 Crore to Sales Value (0.64 % of Total Sales)for the year ending 31-Mar-2019.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs .00 Crore (.00 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs .00 Crore (.00% of total assets). For the quarter ended 30-06-2019, the company has reported a Consolidated Interest Income of Rs 23560.50 Crore, up 3.66 % from last quarter Interest Income of Rs 22727.60 Crore and up 25.25 % from last year same quarter Interest Income of Rs 18810.08 Crore. The bank has reported net profit after tax of Rs 5690.80 Crore in latest quarter.

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Disclaimer: This recommendation is analyst's own and does not represent those of & Please consult your financial advisor before taking any position in the stock/s mentioned.

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