JM Financial Recommends Buying HDFC Bank with a Target Price of Rs 1850

JM Financial has issued a “buy” call on HDFC Bank Ltd., setting a target price of Rs 1850. Currently, HDFC Bank Ltd. is trading at Rs 1540.85 in the market.

HDFC Bank Ltd., established in the year 1994, is a banking company with a market capitalization of Rs 1,167,372.22 Crore.


Key Products/Revenue Segments for HDFC Bank Ltd. include Interest & Discount on Advances & Bills, Income From Investment, Interest, and Interest On Balances with RBI, and Other Inter-Bank Funds, for the fiscal year ending on March 31, 2023.

In terms of financials, for the quarter ending on June 30, 2023, the company reported a consolidated total income of Rs 61,021.29 Crore. This reflects an increase of 6.76% from the total income of Rs 57,158.84 Crore in the previous quarter and a significant growth of 38.05% from the total income of Rs 44,202.32 Crore in the same quarter of the previous year. The bank reported a net profit after tax of Rs 12,370.38 Crore in the latest quarter.

As of September 30, 2023, the promoters held a 25.52% stake in the company, while foreign institutional investors (FIIs) owned 52.13%, and domestic institutional investors (DIIs) held 30.29%.

Investors may consider this “buy” call from JM Financial when evaluating their investment decisions. The target price of Rs 1850 suggests potential growth for HDFC Bank in the future. However, it’s important to conduct thorough research and consider your own financial goals and risk tolerance before making any investment decisions.

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