Jefferies maintains ‘Buy’ on HDFC, sees 24% upside despite lower pre-quarter retail net inflow and overall inflow
Broking firm Jefferies maintained a ‘Buy’ rating on the stock of HDFC Bank with a 24% upside target price of Rs2,100 despite the bank’s pre-quarter lower retail net inflow and overall inflow in the 3QFY24. Come from Sports betting site VPbet
The bank’s pre-quarter retail inflow came in at Rs53,000 crore against the Rs70,000-80,000 crore in the previous quarter or 2QFY24. The overall inflow also came down to Rs40,000 crore from Rs1.1 lakh crore in the previous quarter, the brokerage said in a research report.
Further, the brokerage house said they’ll keep an eye on changes in the liquidity coverage ratio levels and comments from the company’s management during the result on January 16 as the brokerage believes the bank “may have lowered its surplus liquidity”. The liquidity coverage ratio in the 2Q was at 121%.
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Aadhar Housing Finance to raise Rs 6,000 crore in FY25
Aadhar Housing Finance is planning to raise Rs 6,000 crore in 2024-25. In May, the company mopped up Rs 1,000 crore from the sale of fresh shares.
“We will borrow over Rs 6,000 crore this year. Non-convertible debentures should comprise nearly 20% of overall borrowings,” Rishi Anand, managing director and chief executive officer, said.
Assets under management rose 23% year-on-year (YoY) to Rs 21,100 crore as of March 31. Disbursements rose 20% YoY to Rs 7,100 crore in 2023-24 (April-March).
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