ICICI Direct's research report on HDFC Bank
HDFC Bank is a leading private sector bank with consistent growth and operational performance over various cycles. The bank has maintained superior return ratios compared to its peers resulting in premium valuations. Largest private sector bank with loan book of over Rs 11 lakh crore. Consistent performance with +4% NIM and +15% RoE in past many years.
Outlook
We value HDFC Bank at ~3.7x FY23E ABV and Rs 50 for subsidiaries to arrive at a revised target price of Rs 1800.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Read More