Bank Share Price In India: This week has been very good for those investing in the share market. The market has closed with a very slight decline in the last day of the trading week. Before that, there was a tremendous boom in the market. Last week the situation was quite the opposite and investors had to suffer a lot. In such a time, Bokrej firm has advised to bet on 2 banking stocks. The brokerage expects that good profits can be made from these stocks.
Bet on IndusInd and HDFC shares
The brokerage has advised to bet on the shares of IndusInd and HDFC Bank. Brokerage firm Emkay Global released the research report for HDFC on October 4 and for IndusInd on October 6. See the views of the brokerage firm on these two stocks.
HDFC Bank’s target is Rs 1800
Giving buy rating to HDFC Bank shares, the brokerage has given a target price of Rs 1800. The current price of this share is Rs 1430 on NSE. It closed with a fall of 0.43 percent on Friday. The vehicle financing business of the brokerage bank has shown signs of revival. In the September quarter, the bank’s deposit growth has increased by 19 per cent year-on-year. Retail deposits have grown by 20 per cent in this period. The brokerage also expects an improvement in the asset quality of the bank. The firm says that HDFC Bank will benefit from the increasing demand for loans in the country. The stock is trading up 16.43 per cent from its 52-week high and 13.3 per cent above its low. The market cap of HDFC Bank is Rs 802,603 crore.
IndusInd Bank up 18%
The brokerage says that the bank’s credit growth has been in line with their expectations. In the second quarter of the current financial year, the bank’s credit portfolio has seen a growth of 18 per cent year-on-year. Whereas on a quarterly basis it has increased by 5 percent. Like HDFC, the bank will get the benefit of the increasing credit demand in the country. MK Global has a buy call on the bank with a target price of Rs 1275. On 7 October, the stock closed at Rs 1213 with a fall of 1.04 per cent. The stock is trading 5.86 percent below its 52-week high and 57.19 percent above its low. The market cap of IndusInd Bank is Rs 93,071 crore.
Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)
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