KENCES1 RESEARCH LT RATING : BUY HDFC Shares Target 3,450 Rs
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K.Karthik Raja
Jun 19, 2008, 1:25:39 AM6/19/08
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KENCES1 RESEARCH RATING : BUY HDFC Shares Target 3,450 Rs
Thursday, Jun 19
We maintained its "buy" rating on Housing Development Finance Corp,
with a price target of 3,450 rupees.
"HDFC reiterated that it continues to see loan growth at 20-25%,
dispelling fears of a marked slowdown for itself; though sector
growth, per se, may be much lower.
HDFC sees strong growth momentum in the mid-market segment, but
expects a slowdown in the upper-end market that has a high level of
speculation.
The country's leading lender in the housing sector plans to fund
its HDFC Bank stake purchase by listing its life insurance subsidiary
by Oct-Dec 2009.
HDFC's asset management company is likely to be listed earlier.
Resistance Levels
2544/2800/3200
Support Levels
1800
Cmp
2277
K.Karthik Raja
Research Head
Thursday, Jun 19
We maintained its "buy" rating on Housing Development Finance Corp,
with a price target of 3,450 rupees.
"HDFC reiterated that it continues to see loan growth at 20-25%,
dispelling fears of a marked slowdown for itself; though sector
growth, per se, may be much lower.
HDFC sees strong growth momentum in the mid-market segment, but
expects a slowdown in the upper-end market that has a high level of
speculation.
The country's leading lender in the housing sector plans to fund
its HDFC Bank stake purchase by listing its life insurance subsidiary
by Oct-Dec 2009.
HDFC's asset management company is likely to be listed earlier.
Resistance Levels
2544/2800/3200
Support Levels
1800
Cmp
2277
K.Karthik Raja
Research Head
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