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Buy HDFC Bank, target Rs 2370: Manas Jaiswal

Buy HDFC Bank, at a price target of Rs 2370.0 and a stoploss at Rs 2265 from entry point.

Last Updated: Mar 22, 2019, 08.59 AM IST
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Manas Jaiswal of manasjaiswal.com has a buy call on HDFC Bank Ltd. with a target price of Rs 2370. The current market price of HDFC Bank Ltd. is Rs 2299.2. Time period given by the analyst is Intra Day when HDFC Bank Ltd. price can reach the defined target. Manas Jaiswal recommended to keep stoploss at Rs 2265. HDFC Bank Ltd., incorporated in 1994 has a market cap of Rs 626142.66 crore.

HDFC Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 62661.79 Crore to Sales Value (78.09 % of Total Sales), Income From Investment which contributed Rs 16222.37 Crore to Sales Value (20.21 % of Total Sales), Interest which contributed Rs 833.31 Crore to Sales Value (1.03 % of Total Sales) and Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 523.88 Crore to Sales Value (0.65 % of Total Sales)for the year ending 31-Mar-2018.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 10902.86 Crore (1.38 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 3301.54 Crore (.42% of total assets). For the quarter ended 31-12-2018, the company has reported a Standalone Interest Income of Rs 20306.29 Crore, up 7.85 % from last quarter Interest Income of Rs 18827.68 Crore and up 25.68 % from last year same quarter Interest Income of Rs 16156.61 Crore. The bank has reported net profit after tax of Rs 5585.85 Crore in latest quarter.

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