Sharekhan is bullish on HDFC Bank has recommended buy rating on the stock with a target price of Rs 2300 in its research report dated April 23, 2018.
Sharekhan's research report on HDFC Bank
HDFC Bank (HDFCBK) posted strong and in-line with expectations results for Q4FY2018. The bank reported healthy operational performance, as seen in its net interest income (NII) growing by 18% y-o-y to Rs. 10,657 crore and non-interest income jumping by 22.7% y-o-y to Rs. 4,228 crore. Healthy growth in non-interest income (OI) was fueled by robust 32% y-o-y uptick in core fee income (fueled by third-party distribution etc.)
Outlook
GNPA/NNPAs stable yet again, steady asset quality has been a key differentiator.We maintain our Buy rating on HDFCBK with a price target of Rs. 2,300.For all recommendations report, click here
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