Housing Development Finance Corporation Ltd., incorporated in the year 1977, is a Large Cap company (having a market cap of Rs 376400.92 Crore) operating in NBFC sector.
By ETMarkets.com | Updated:
Agencies
Promoters held 0 per cent stake in the company as of Sept 30, 2020, while FIIs held 70 per cent, DIIs 18.5 per cent and public and others 11.6 per cent.
Emkay Global has given a buy rating to HDFC with a target price of Rs 2320. The share price moved up by 3.07 per cent from its previous close of Rs 2042.65. The stock’s last traded price is Rs 2105.35.
Housing Development Finance Corporation Ltd., incorporated in the year 1977, is a Large Cap company (having a market cap of Rs 376400.92 Crore) operating in NBFC sector.
Financials For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 34082.97 Crore, up 13.79 % from last quarter Sales of Rs 29953.57 Crore and up 3.92 % from last year same quarter Sales of Rs 32796.50 Crore Company reported net profit after tax of Rs 3392.98 Crore in latest quarter.
Investment Rationale HDFC remains top pick in the NBFC/HFC space due to a relatively longer asset maturity duration (supporting AUM growth), superior liability franchise and lower default risk. It raises FY22/23E earnings by ~5.7%/~4%. It retains Buy (OW in EAP) with a revised TP of Rs2320, ~2x P/B Mar’23 (Standalone).
Promoter/FII Holdings Promoters held 0 per cent stake in the company as of Sept 30, 2020, while FIIs held 70 per cent, DIIs 18.5 per cent and public and others 11.6 per cent.
