Buy HDFC Bank, target price Rs 1750: Prabhudas Lilladher

Prabhudas Lilladher has purchase name on with a target price of Rs 1750. The present market price of HDFC Bank is Rs 1620.35. Time interval given by analyst is medium time period when HDFC Bank price can attain outlined target. HDFC Bank, integrated within the yr 1994, is a banking firm (having a market cap of Rs 897587.95 Crore).

HDFC Bank key Products/Revenue Segments embody Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the yr ending 31-Mar-2022.

Financials

For the quarter ended 30-09-2022, the corporate has reported a Consolidated Total Income of Rs 49182.10 Crore, up 11.27% from final quarter’s Total Income of Rs 44202.32 Crore and up 18.69 % from final yr’s similar quarter Total Income of Rs 41436.36 Crore. The financial institution has reported web revenue after tax of Rs 11125.21 Crore in newest quarter.

Investment Rationale
HDFC Bank is in a powerful uptrend making a better prime larger backside formation on every day chart & now with all optimistic indicators the inventory is prepared for brand spanking new projected target of 1750. The brokerage recommends to purchase this inventory preserving a cease lack of 1550 for an upside target of 1750.

Promoter/FII Holdings
Promoters held 25.73 per cent stake within the firm as of 30-Jun-2022, whereas FIIs owned 40.26 per cent, DIIs 19.16 per cent.

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