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Buy HDFC Bank; target of Rs 1185: CLSA

Wednesday, April 25, 2007

CLSA Research is bullish on HDFC Bank and has recommended buy rating on the stock with a 12-month target of Rs 1185. Research house believe that the HDFC Bank continues to be one of the prime quality plays on Indian banking sector owing to its dominant retail franchise and its strong earnings growth trajectory.

Trades at 4.2x FY08CL book

At 4.2x FY08CL book, HDFC bank continues to trade near the higher end of the valuation range. However the bank’s ability to sustain its strong earnings growth trajectory across the interest rate cycle should help sustain valuations.

Posted by FR at 6:12 PM  

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IMPORTANT DISCLAIMER

Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.