October 10, 2024

Housing Finance Development

It's Your Housing Finance Development

hdfc stocks: Buy Housing Development Finance Corporation, target price Rs 3290: Motilal Oswal Financial Services

hdfc stocks: Buy Housing Development Finance Corporation, target price Rs 3290: Motilal Oswal Financial Services

Motilal Oswal Financial Services has buy call on Housing Development Finance Corporation with a target price of Rs 3290. The current market price of Housing Development Finance Corporation is Rs 2703.

Housing Development Finance Corporation, incorporated in the year 1977, is a Large Cap company (having a market cap of Rs 498403.00 Crore) operating in NBFC sector.

Housing Development Finance Corporation key Products/Revenue Segments include Interest, Income From Sale Of Share & Securities, Dividend, Other Services, Fees & Commission Income and Rental Income for the year ending 31-Mar-2022.

Financials

For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 44653.97 Crore, up 8.32 % from last quarter Total Income of Rs 41223.06 Crore and up 27.37 % from last year same quarter Total Income of Rs 35059.75 Crore. Company has reported net profit after tax of Rs 5026.13 Crore in latest quarter.

The company’s top management includes Mr.Deepak S Parekh, Mr.Rajesh Narain Gupta, Mrs.Ireena Vittal, Dr.Bhaskar Ghosh, Mr.U K Sinha, Mr.Jalaj Dani, Mr.V Srinivasa Rangan, Ms.Renu Sud Karnad, Mr.Keki M Mistry, Mr.P R Ramesh. Company has G M Kapadia & Co. as its auditors. As on 31-03-2023, the company has a total of 183 Crore shares outstanding.


Investment Rationale
The brokerage expects HDFC’s margin to remain largely stable over FY24/FY25. With overall provisions at 2% of EAD, HDFC has made adequate provisions for any contingencies in asset quality. Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 31-Mar-2023, while FIIs owned 66.2 per cent, DIIs 22.35 per cent.

(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.

(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Top Trending Stocks: Sensex Today Live, SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

link