Buy HDFC Bank, target price Rs 1370: Motilal Oswal

Motilal Oswal has given a buy rating to HDFC Bank with a target price of Rs 1370. The share price moved up by 1.17 per cent from its previous close of Rs 1307.75. The stock’s last traded price is Rs 1323.

HDFC Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 717936.28 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.


Promoter/FII Holdings
Promoters held 26 per cent stake in the company as of Sept 30, 2020, while FIIs held 37.4 per cent, DIIs 33.9 per cent and public and others 2.7 per cent.