Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)

Buy HDFC Bank : Brokerage Report

57 sec read

HDFC Bank
Research:Indiabulls financials
Rating: Buy

Indiabulls has upgraded its rating on HDFC Bank from ‘hold’ to ‘buy’ with a target price of Rs 1,715 for FY09. HDFC Bank has been a consistent performer, with its key parameters being one of the best in the industry. Its net interest margin at 4.3% and the current account and savings account (CASA) ratio at 50.9% are among the highest in the industry. Non-interest income, after witnessing a slowdown for some quarters, started to pick up and increased 81.9% YoY, against its earlier increases in the range of 25-35%. With the bank taking new initiatives such as investment banking, other income will continue to have a large share in the total income.

There has been a consistent rise in the size of the balance sheet at an average pace of around 40% in the past few quarters, with significant contributions being made by both advances and deposits, indicating broad-based growth. Further, the growth has been accompanied by an excellent asset quality, with the net non-performing assets (NPA) ratio being maintained at 0.4% since the past few quarters.

In the year so far, the bank has added 64 branches, and is planning to open more than 250 branches in the next few months. Indiabulls has valued HDFC Bank using the two-stage Gordon-growth model as it’s likely to continue its high-growth journey for the next few years. Indiabulls has arrived at a target price-to-book value (P/BV) multiple of 4.8x by assuming a sustainable return on equity (RoE) of 19% on account of its high interest margins and increasing proportion of non-interest income.

[wp_ad_camp_5]

 

Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)

GANN Shorter term update for Nifty as on 15…

  GANN Supports zone near 5005. More weakness below 5005 as next support near 4780. Avoid longs if nifty dips below 5005. Source:...
Rajandran R
5 sec read

Larsen and toubro update

  Trailing Stop Loss Update for Larsen and Tourbo   Cover Shorts and reverse the position if LT closes above 1665. Source: www.marketcalls.in
Rajandran R
6 sec read

JP Associates is getting Weaker

  1)Stock is showing massive MACD divergence 2)Price is currently below 13,34,55 EMA and these levels could act as a resistance in coming sessions. 3)Stop...
Rajandran R
12 sec read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More