Buy HDFC Bank, target price Rs 2000: ICICI Securities
HDFC Bank with a target price of Rs 2000. The current market price of HDFC Bank is Rs 1568.9.
HDFC Bank, incorporated in the year 1994, is a banking company (having a market cap of Rs 1227907.75 Crore).
HDFC Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2023.
Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 61021.29 Crore, up 6.76 % from last quarter Total Income of Rs 57158.84 Crore and up 38.05 % from last year same quarter Total Income of Rs 44202.32 Crore.
The bank has reported net profit after tax of Rs 12370.38 Crore in latest quarter.
Investment Rationale
The brokerage believes HDFC Bank has given reasonable clarity on the movement of net worth and associated matters. Mobilisation of retail deposits and NIM trajectory are likely to be the key drivers for the stock price.
