Technically, for HDFC Bank (CMP:1065) has immediate target of 1100 and sustain above that it could reach 1170/1185 (short term) and in mid term, it could scale 1250 zone. Immediate positional support will be around 1030-1022 area.
HDFC Bank announced "Above Street Expectation" result on last Saturday. Before that, it also successfully raised INR 10000 Cr last week, through a mix of ADR(s) & QIP(s). For 2014, it was grappling with FII investment issue and it is now resolved in favour of HDFC Bank. Going forward, loan growth and other earnings may accelerate on the back drop of "Shinning India". This coupled with stable asset quality (NPA), adequate capital to support growth and robust management may bring ensure at least 25% CAGR growth in the coming years. Also, it may consider to demerge/list its insurance & broking subsidiary in future and may also consider merging with its listed housing finance subsidiary (HDFC), provided factors are favorable.
No comments:
Post a Comment