HDFC Share price: Jefferies reiterates Buy rating with target price of Rs 3300
HDFC's 4QFY21 profit of Rs 32 bn (up 42% YOY; 5% 2yr CAGR) was ahead of estimate. Exit momentum was strong with all-time high retail lending in March & wider NIM. Asset quality was stable with stage-3 loan at 2.3%, restructuring at 0.8% & buffer provision stood at 1.5%. 1Q would be affected by Covid, but can be recouped in 2H. Jefferies trim estimates a bit, reiterate their BUY rating
Jefferies cut estimates by 4-5% on HDFC, to factor in slower growth, but reiterate their Buy rating with a target price of Rs 3300 (earlier Rs 3380): Reuters