BNP Paribas Securities has issued a “buy” recommendation on HDFC Bank with a target price of Rs 2210. The current market price of HDFC Bank Ltd. stands at Rs 1523. HDFC Bank Ltd., established in 1994, is a prominent banking company with a market capitalization of Rs 1,144,692.99 Crore.
HDFC Bank Ltd.’s primary revenue segments include Interest & Discount on Advances & Bills, Income From Investment, Interest, and Interest On Balances with RBI, and Other Inter-Bank Funds. For the quarter ending on June 30, 2023, the bank reported a consolidated total income of Rs 61,021.29 Crore. This figure represents a 6.76% increase compared to the previous quarter and an impressive 38.05% growth compared to the same quarter in the previous year. In the latest quarter, the bank reported a net profit after tax of Rs 12,370.38 Crore.
As of June 30, 2023, the promoters of HDFC Bank Ltd. held a 25.52% stake in the company, while foreign institutional investors (FIIs) owned 33.38%, and domestic institutional investors (DIIs) held 26.68%.
Investors looking for insights into HDFC Bank Ltd. may find value in BNP Paribas Securities’ “buy” recommendation, which comes with a target price of Rs 2210. This recommendation can be helpful for those making investment decisions related to HDFC Bank.