Buy HDFC Bank, target price Rs 1450: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on HDFC Bank with a target price of Rs 1450. The current market price of HDFC Bank Ltd. is Rs 1391.6. Time period given by analyst is Intra Day when HDFC Bank Ltd. price can reach defined target.

HDFC Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 771967.03 Crore).

HDFC Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2020.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 43960.45 Crore, up 1.37 % from last quarter Total Income of Rs 43364.96 Crore and up 7.46 % from last year same quarter Total Income of Rs 40909.49 Crore. The bank reported net profit after tax of Rs 10443.01 Crore in latest quarter.

Investment Rationale
Negated its lower lows formation of six weeks, turned after forming a base and crossed its 50 EMA

Promoter/FII Holdings
Promoters held 25.78 per cent stake in the company as of 31-Mar-2022, while FIIs owned 43.0 per cent, DIIs 17.19 per cent.