MY KOLKATA EDUGRAPH
ADVERTISEMENT
regular-article-logo Saturday, 13 April 2024

Upbeat report on HDFC Bank, shares gain more than 1 per cent in intra-day trades

Analysts at Morgan Stanley citing the lender’s views said its incremental home loan disbursal market share has improved to 20 per cent run-rate after the merger with HDFC

Our Special Correspondent Mumbai Published 17.02.24, 09:39 AM
Representational image

Representational image File picture

The shares of HDFC Bank on Friday gained more than 1 per cent in intra-day trades after a global brokerage maintained an overweight rating on the lender with a target price of Rs 2,110.

The private sector lender, which has a market cap of Rs 10,78,493 crore, rose to an intra-day high of Rs 1,428.15 on the report.

ADVERTISEMENT

Subsequently, it gave up some of the gains to close at Rs 1,419.90 on the BSE, a rise of Rs 6.15 or 0.44 per cent over the last close.

The green tick also came after the senior management at the bank sounded optimistic about its housing finance business.

Analysts at Morgan Stanley citing the lender’s views said its incremental home loan disbursal market share has improved to 20 per cent run-rate after the merger with HDFC.

The management is also hopeful of accelerated market share gains. The merger of HDFC with HDFC Bank became effective in July last year.

HDFC Bank said the home loan business has shown robust and’ consistent higher double-digit, year-on-year growth for the first six months, post the merger.

On a sequential basis, it has gained a leading position as it recorded a growth of 3.6 per cent which was the highest amongst peers in home loans.

Follow us on:
ADVERTISEMENT