AgenciesPrabhudas Lilladher has buy call on with a target price of Rs 1740. The current market price of HDFC Bank Ltd. is Rs 1471.65. Time period given by analyst is one year when HDFC Bank price can reach defined target.
HDFC Bank, incorporated in the year 1994, is a banking company (having a market cap of Rs 813269.84 crore).
It's key products/revenue segments include interest and discount on advances and bills, income from investment, interest on balances with RBI and other inter-bank funds and interest for the year ended March 31, 2022.
Financials
For the quarter ended June 30, 2022, the company has reported a consolidated total income of Rs 44202.32 crore, up 0.55 per cent from last quarter total income of Rs 43960.45 crore and up 13.53 per cent from last year same quarter total income of Rs 38933.63 crore. The bank has reported net profit after tax of Rs 9579.11 crore in latest quarter.
Investment Rationale
Advance growth of 21.6 per cent YoY was primarily led by uptick in CRB segment 29% YoY) and retail(21% YoY) while corporate growth slowed which led to marginal uptick in margins by 5 bps. Deposit accretion was led by TD. Slippages were slightly higher at 2 per cent while restructuring declined to 90bps. Credit cost remained benign at <1 per cent while contingency buffer increased to 69 bps.
Promoter/FII Holdings
Promoters held 25.73 per cent stake in the company as of June 30, 2022, while FIIs owned 40.26 per cent, DIIs 19.16 per cent.
HDFC Bank, incorporated in the year 1994, is a banking company (having a market cap of Rs 813269.84 crore).
It's key products/revenue segments include interest and discount on advances and bills, income from investment, interest on balances with RBI and other inter-bank funds and interest for the year ended March 31, 2022.
Financials
For the quarter ended June 30, 2022, the company has reported a consolidated total income of Rs 44202.32 crore, up 0.55 per cent from last quarter total income of Rs 43960.45 crore and up 13.53 per cent from last year same quarter total income of Rs 38933.63 crore. The bank has reported net profit after tax of Rs 9579.11 crore in latest quarter.
Investment Rationale
Advance growth of 21.6 per cent YoY was primarily led by uptick in CRB segment 29% YoY) and retail(21% YoY) while corporate growth slowed which led to marginal uptick in margins by 5 bps. Deposit accretion was led by TD. Slippages were slightly higher at 2 per cent while restructuring declined to 90bps. Credit cost remained benign at <1 per cent while contingency buffer increased to 69 bps.
Promoter/FII Holdings
Promoters held 25.73 per cent stake in the company as of June 30, 2022, while FIIs owned 40.26 per cent, DIIs 19.16 per cent.
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