{"id":7816,"date":"2015-07-04T12:45:03","date_gmt":"2015-07-04T07:15:03","guid":{"rendered":"https:\/\/blog.fundsindia.com\/blog\/?p=7816"},"modified":"2015-07-15T17:16:23","modified_gmt":"2015-07-15T11:46:23","slug":"hdfc-bank-ltd","status":"publish","type":"post","link":"https:\/\/fundsindia.com\/blog\/equities\/hdfc-bank-ltd\/7816","title":{"rendered":"HDFC Bank Ltd."},"content":{"rendered":"<p>HDFC Bank Ltd. is India\u2019s largest private sector lender engaged in providing\u00a0a range of banking and financial services. The bank operates in four\u00a0segments: treasury, retail banking, wholesale banking and other\u00a0banking business. With capital adequacy of 16.8% (tier-1 capital: 13.7 %)\u00a0by the end of FY15, the bank is well-capitalized to meet its capital\u00a0requirements to support its future business growth. As on 31st March,\u00a02015, the bank has customer base of ~3.2 crore with a nationwide\u00a0network of 4,014 branches and 11,766 ATM&#8217;s in 2,464 towns and cities\u00a0across India.<\/p>\n<p><strong>Valuation and view<\/strong><\/p>\n<p style=\"text-align: justify;\">Over the years, HDFC Bank has outpaced industry growth \u00a0rates in almost all the operational parameters. But to\u00a0maintain similar trend and deliver ROA as high as its present\u00a01.9% level despite enlargement in balance sheet, will be a\u00a0challenge for the bank. However, we believe HDFC Bank will\u00a0continue its streak of consistent performance and remain one\u00a0of the safest bets in the banking sector. Further, with strong\u00a0capital adequacy ratio, healthy asset quality and stable NIM,\u00a0we believe the HDFC Bank is well positioned to take the\u00a0advantage of revival in economy, which in turn would lead to\u00a0higher loan growth in future.<\/p>\n<div class=\"blog-highlight\" style=\"clear: both; background: #2baae2; border: none; width: 60%; text-align: center; box-shadow: 0 5px 5px rgba(0, 0, 0, 0.5);\"><a style=\"text-decoration: none;\" href=\"http:\/\/www.fundsindia.com\/content\/jsp\/lp\/equity1.do?ref=blog-button\" target=\"_blank\"> <span style=\"color: #fff; font-weight: bold;\">Open<\/span> <span style=\"color: #fff; font-weight: bold; text-decoration: none;\"> a FREE Account Now! <\/span><\/a><\/div>\n<p style=\"text-align: justify;\">At a current CMP of \u00a0Rs 1,062, the stock trades at a P\/BVPS of\u00a03.7x FY16E and 3.1x FY17E, book value. We recommend\u00a0\u2018BUY\u2019 with a target price of Rs 1,253, arrived at FY17E book\u00a0value which implies potential upside of ~18% to the CMP\u00a0from a long term perspective.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2015\/07\/Research-Report-HDFC-Bank-Ltd.pdf\">Research Report HDFC Bank Ltd<\/a><\/p>\n<p style=\"text-align: justify;\"><i>Investments in equity shares, debentures, etc., are not obligations of, or guaranteed by Wealth India Financial Services Pvt. Ltd., and are subject to investment risks.\u00a0<a href=\"http:\/\/pages.fundsindia.com\/pages\/disclaimer-equities\/\">Click here<\/a>\u00a0to read our full disclaimer.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>HDFC Bank Ltd. is India\u2019s largest private sector lender engaged in providing\u00a0a range of banking and financial services. The bank operates in four\u00a0segments: treasury, retail banking, wholesale banking and other\u00a0banking business. With capital adequacy of 16.8% (tier-1 capital: 13.7 %)\u00a0by the end of FY15, the bank is well-capitalized to meet its capital\u00a0requirements to support its [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>HDFC Bank Ltd.<\/title>\n<meta name=\"description\" content=\"Find the latest research report on HDFC Bank Ltd. 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