Buy HDFC Bank; target of 
2514: Angel Broking
Bangalore: Angel Broking is bullish on HDFC Bank and has recommended buy rating on the stock with a target of 
2514. According to Angel Broking, HDFC Bank reported net profit growth of 33.9 percent (YoY) and a decline of three percent sequentially to 812 crore, close to their estimate of Rs 806 crore.
HDFC Bank is an Indian banking company. The Bank is engaged in providing a range of banking and financial services, including commercial banking and treasury operations. It has three primary business segments: banking, wholesale banking and treasury. The retail banking segment serves retail customers through a branch network and other delivery channels. This segment raises deposits from customers and makes loans and provides other services with the help of specialist product groups to such customers. The wholesale banking segment provides loans, non-fund facilities and transaction services to corporate, public sector units, government bodies, financial institutions and medium-scale enterprises. The treasury segment includes net interest earnings on investments portfolio of the Bank. As of March 31, 2010, the Bank operated 1,725 branches in 779 cities and 4,232 automated teller machines (ATMs).
Angel Broking believes HDFC Bank is once again positioned for a high qualitative growth trajectory, with the CASA and cost-to-income ratios returning to pre-CBoP levels. In their view, its strong capital adequacy and substantial branch expansion, the bank is set to further gain credit and CASA market share and achieve strong growth in fee income, as the economic environment continues to improve. Angel Broking recommends a buy rating with a target price of 2514.
2514. According to Angel Broking, HDFC Bank reported net profit growth of 33.9 percent (YoY) and a decline of three percent sequentially to 812 crore, close to their estimate of Rs 806 crore.
HDFC Bank is an Indian banking company. The Bank is engaged in providing a range of banking and financial services, including commercial banking and treasury operations. It has three primary business segments: banking, wholesale banking and treasury. The retail banking segment serves retail customers through a branch network and other delivery channels. This segment raises deposits from customers and makes loans and provides other services with the help of specialist product groups to such customers. The wholesale banking segment provides loans, non-fund facilities and transaction services to corporate, public sector units, government bodies, financial institutions and medium-scale enterprises. The treasury segment includes net interest earnings on investments portfolio of the Bank. As of March 31, 2010, the Bank operated 1,725 branches in 779 cities and 4,232 automated teller machines (ATMs).
Angel Broking believes HDFC Bank is once again positioned for a high qualitative growth trajectory, with the CASA and cost-to-income ratios returning to pre-CBoP levels. In their view, its strong capital adequacy and substantial branch expansion, the bank is set to further gain credit and CASA market share and achieve strong growth in fee income, as the economic environment continues to improve. Angel Broking recommends a buy rating with a target price of 2514.