Buy HDFC Bank, target price Rs 1515: Kotak Securities

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Buy HDFC Bank, target price Rs 1515:  Kotak Securities


Kotak Securities has buy call on HDFC Bank with a target price of Rs 1515. The current market price of HDFC Bank Ltd. is Rs 1468.05.

HDFC Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 808937.11 Crore).

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated Interest Income of Rs 25119.76 Crore, down -3.30 % from last quarter Interest Income of Rs 25978.00 Crore and up 3.23 % from last year same quarter Interest Income of Rs 24333.99 Crore. The bank reported net profit after tax of Rs 7711.37 Crore in latest quarter.



Investment Rationale
The stock has given a breakout from rectangle formation on the daily and weekly charts.


Promoter/FII Holdings
Promoters held 21.2 per cent stake in the company as of Sept 30, 2020, while FIIs held 49.1 per cent, DIIs 18.6 and public and others 11.1 per cent.





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