While Gautam Adani received a vote of confidence from investors in its latest $2.5 public offering Tuesday, Wall Street is still sizing up his exposure to the.
While Gautam Adani received a vote of confidence from investors in its latest $2.5 public offering Tuesday, Wall Street is still sizing up his exposure to the.
Has ICICI Securities found a magic formula to beat margin rule impact?
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Analysts tracking the company remain positive in outlook and see up to 35 per cent upside in the stock.
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NEW DELHI: Thanks to robust client addition and more cash delivery, India’s largest traditional broker more than doubled net profit during the March quarter. The company was virtually unaffected by Sebi’s new margin rules.
Analysts tracking the company remain positive in outlook and see up to 35 per cent upside in the stock. Most of them have ‘buy’ ratings on the scrip. The stock gained nearly 5 per cent in Mumbai trading on Thursday.
NEW DELHI: Foreign and domestic analysts gave a thumbs up to the December quarter earnings report of HDFC and said the numbers have reaffirmed the strength of its business model and the growth outlook remains intact.
Most of the analysts retained their bullish ratings and also maintained the target price of the stock with potential upside up to 24 per cent from its last closing price.
CLSA analysts Adarsh Parasrampuria and Mohit Surana said the mortgage lender’s third quarter performance was strong with a big beat on net interest income that increased by 26 per cent year-on-year.
“HDFC’s margins improved by 20 bps QoQ and 30 bps from June quarter lows. Near term margin performance should continue as RBI intends to keep system liquidity in surplus while there are strong incremental mortgage spreads in spite of the rate cut in mortgages,” the duo said.