Buy HDFC, target price Rs 3030: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Housing Development Finance Corporation with a target price of Rs 3030. The current market price of Housing Development Finance Corporation is Rs 2902.75.

Time period given by analyst is Intra Day when Housing Development Finance Corporation Ltd. price can reach defined target.

Housing Development Finance Corporation Ltd., incorporated in the year 1977, is a Large Cap company (having a market cap of Rs 525095.09 Crore) operating in NBFC sector.


Housing Development Finance Corporation Ltd. key Products/Revenue Segments include Interest, Income From Sale Of Share & Securities, Other Services, Dividend, Fees & Commission Income and Rental Income for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 30997.13 Crore, down -13.30 % from last quarter Total Income of Rs 35753.86 Crore and up 3.46 % from last year same quarter Total Income of Rs 29959.34 Crore. Company reported net profit after tax of Rs 3426.31 Crore in latest quarter.

Investment Rationale
Price volume breakout on daily frame, trading near all-time highs and higher lows over three weeks

Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 30-Sep-2021, while FIIs owned 71.95 per cent, DIIs 16.85 per cent.