HDFC stocks: Buy Housing Development Finance Corporation, target price Rs 2450: Chandan Taparia
Finance

HDFC stocks: Buy Housing Development Finance Corporation, target price Rs 2450: Chandan Taparia


Chandan of has buy call on with a target price of Rs 2450. The current market price of . is Rs 2344.85.

Housing Development Finance Corporation Ltd., incorporated in the year 1977, is a Large Cap company (having a market cap of Rs 425220.99 Crore) operating in NBFC sector.

Housing Development Finance Corporation Ltd. 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 30-06-2022, the company reported a Consolidated Total Income of Rs 23193.32 Crore, down -33.85 % from last quarter Total Income of Rs 35059.75 Crore and down -25.18 % from last year same quarter Total Income of Rs 30997.13 Crore. Company reported net profit after tax of Rs 3388.96 Crore in latest quarter.

Investment Rationale
Price volume breakout on daily frame and turning from its support by surpassing its resistance zones


Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 67.75 per cent, DIIs 21.02 per cent.

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