hdfc stocks: Buy Housing Development Finance Corporation, target price Rs 2850: Rajesh Palviya

Rajesh Palviya of Axis Securities has buy call on Housing Development Finance Corporation with a target price of Rs 2850. The current market price of Housing Development Finance Corporation is Rs 2717.5. Rajesh Palviya recommended to keep stop loss at Rs 2630.

Housing Development Finance Corporation, incorporated in the year 1977, is a Large Cap company (having a market cap of Rs 497641.66 Crore) operating in NBFC sector.

Housing Development Finance Corporation key Products/Revenue Segments include Interest, Income From Sale Of Share & Securities, Dividend, Other Services, Fees & Commission Income and Rental Income for the year ending 31-Mar-2022.

Financials

For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 44653.97 Crore, up 8.32 % from last quarter Total Income of Rs 41223.06 Crore and up 27.37 % from last year same quarter Total Income of Rs 35059.75 Crore. Company has reported net profit after tax of Rs 5026.13 Crore in latest quarter.

The company’s top management includes Mr.Deepak S Parekh, Mr.Rajesh Narain Gupta, Mrs.Ireena Vittal, Dr.Bhaskar Ghosh, Mr.U K Sinha, Mr.Jalaj Dani, Mr.V Srinivasa Rangan, Ms.Renu Sud Karnad, Mr.Keki M Mistry, Mr.P R Ramesh. Company has B S R & Co. LLP as its auditors. As on 31-03-2023, the company has a total of 183 Crore shares outstanding.

Investment Rationale
Strongly rebounded from 200-day SMA(2603), daily weekly RSI is in positive terrain.

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