Finance corporation

HDFC Shares: Buy Housing Development Finance Corporation, target price Rs 2490: Chandan Taparia

Chandan has a call to buy with a target price of Rs 2490. The current Housing Development Finance Corporation market price is Rs 2379.1.

The time period given by the analyst is Intra Day when the Housing Development Finance Corporation price can reach the set target.

., incorporated in 1977, is a large capitalization company (having a market capitalization of Rs 431444.62 Crore) operating in the NBFC sector.

The main products/revenue segments of Housing Development Finance Corporation Ltd. include interest, income from the sale of stocks and securities, dividends, other services, fee and commission income and rental income for the year ending March 31, 2022.


For the quarter ended 30-06-2022, the company reported consolidated total revenue of Rs 23,193.32 Crore, down -33.85% from last quarter, total revenue of Rs 35,059.75 Crore and down -25.18% compared to the same quarter last year. Total income of Rs 30997.13 Crore. The company reported a net profit after tax of Rs 3388.96 Crore last quarter.

Investment rationale
The follow-on buys are visible and have moved above their previous resistance zone.

Promoter/Fii Holdings
The promoters held 0% of the company’s capital as of June 30, 2022, while the FIIs held 67.75%, the DIIs 21.02%.

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