HDFC Bank Stocks: HDFC Bank has grown nearly 14 per cent in advance and 16.3 per cent in deposits in the March quarter.
HDFC Bank Stocks: HDFC Bank shares have seen flat trading so far this year. Talking about this year since January, only a slight increase of 2 per cent has been observed in the stock. But further investors can get strong returns in the bank’s stock. Both brokerage house CLSA and brokerage house Motilal Oswal are seeing good growth in the bank’s stock and have advised to buy into it. In fact, the bank has informed that there has been about 14 percent growth in advance in the March quarter, while the deposit has increased by 16.3 percent. Bank’s results are expected to be strong in the March quarter. Currently, according to the brokerage report, the stock can get up to 26 percent return.
CLSA gives target of Rs 1825
The veteran brokerage house CLSA has maintained a buy rating on HDFC Bank. The brokerage house has given a target of Rs 1825 for this. In terms of current price of Rs 1450, 26 percent return is possible. The brokerage house says that there is a trend of strong growth in the bank’s fourth quarter business. CLSA said that despite the trend of reducing debt in companies, HDFC Bank’s loan book is expected to remain strong. There have been signs of strong growth from the Q4 update. The company’s retail and corporate loan book looks growth positive. On the issue of new credit card, the growth of the company will be better even after restriction.
Explain that the bank’s advance has reached 11.32 lakh crore by the end of March 2021. Whereas it was 9.94 lakh crore rupees till the same period of 1 year ago. At the same time, retail loan growth was 7.5 percent on an annual basis and domestic wholesale loan growth was 21 percent.
Motilal Oswal gave a target of Rs 1800
According to brokerage house Motilal Oswal, HDFC Bank continues to see good growth at the level of advance and deposit. Retail loans have increased. Growth remains stable in the wholesale book. Asset quality is getting better. The bank has a buffer of high provisions. Further, the overall growth of the company is expected to be better.
62% return in 1 year
HDFC Bank shares have received 62 per cent return to investors during the last 1 year. During this period, the stock has risen from Rs 896 to Rs 1450. The 1-year high for the stock is Rs 1,641 and the 1-year low is Rs 826.
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