Analyst's views on HDFC after results

NEW DELHI: The housing and mortgage lender, Housing Development Finance Corporation Ltd reported on Friday, a 22 pc Y-o-Y growth in net profit to Rs 844.53 cr for the April-June quarter for FY12.

Shares in the counter closed 1.5 pc lower on BSE at Rs 711.95. It touched a high of Rs 732.00 and a low of Rs 710.10.

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ET Now spoke to couple of analysts and here's what they have to say on HDFC:

Amit Khurana, Director Research, Dolat Capital - "Results were in line"

The results were pretty very much in line with expectations. I guess over the next 12 to 18 months they have plans to unlock some of the investments that they have into the other ventures like insurance and a few other companies.

Structurally as a business -- it tends to have a very stable growth of 18% to 22% range so I say I am positive on it structurally.

Sudarshan Sukhani, Technical Trends - "Buy on dips - It could touch Rs 750"

HDFC's charts are excellent and it is proved by the fact that prices are almost close to lifetime highs. Now what happens today or in a day or two is eagerly awaited because this is really an investment stock.

Every time you have a dip, you want to buy it. At current reckoning if this uptrend continues, we should see it touch 750.

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com - "It could touch new highs"

It is fairly close to its upper end of the range of about 740. Post this little bit of profit booking, chances are if the market continues higher, this could get to new highs crossing 740.