NSE: HDFC | BSE: 500010 | INDUSTRY : HOUSING FINANCE | SECTOR : BANKING AND FINANCE

Housing Development Finance Corporation Ltd.

Expensive Performer

2059.70 17.15 (0.84%)

39.79% Gain from 52W Low

Volume: 3.6M

NSEOct 23, 2020 03:31 PM

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Durability score
60/100
High Financial Strength
Valuation score
24.5/100
Expensive Valuation
Momentum score
57.6/100
Technically Neutral
12S
3W
8O
1T


Housing Development Finance Corporation Ltd.    
04 Aug 2020
2059.70
0.84%
buy
by Geojit BNP Paribas
Target: 2230 | Upside : 8.3%
Geojit BNP Paribas
With improved affordability in last 2.5 decades, enhanced fiscal initiatives and credit linked subsidy scheme from government, we expect demand to pick up and hence reiterate our BUY rating on the stock, with a revised target price of Rs. 2,230, based on SOTP valuation. Skewed NIM due to negative carry on higher liquidity Net interest income increased by 10.2% YoY to Rs. 3,392cr, though NIM dropped to 3.1% in Q1FY21 vs. 3.3% in Q1FY20, impacted due to negative carry on account of significantly higher liquidity of Rs. 181cr. The Company recorded a cost-to-income...
Housing Development Finance Corporation Ltd. has gained 23.82% in the last 6 Months
Housing Development Finance Corporation Ltd.    
04 Aug 2020
2059.70
0.84%
buy
by SMC online
SMC online
HDFC Q1 net profit falls 5% to Rs 3,052 crore, beats Street estimates HDFC has recorded 5% decline in the net profit to Rs 3051.52 crore in the quarter ended June 2020 (Q1FY2021), mainly driven bydecline profit on sale of investment and surge in provisions....
Housing Development Finance Corporation Ltd. is trading above all available SMAs
Housing Development Finance Corporation Ltd.    
31 Jul 2020
2059.70
0.84%
buy
by Nirmal Bang Institutional
Target: 2101 | Upside : 2.0%
Nirmal Bang Institutional
Strong Balance sheet; growth aided by non-individual HDFC Ltd (HDFC) reported NII of Rs32.1bn, 7% below our estimate. The weak growth in NII (up 4.6% YoY, down 9.7 QoQ) was due to NIM contraction (down 14bps YoY and 17bps QoQ on calc. basis). We note that the loan yield has contracted by ~26bps QoQ to 9.48% against a drop of ~18bps QoQ in cost of funds. Advances (net of ECL) grew by 10.5% YoY and 3.1% QoQ. Overall AUM grew by 11.7% YoY. Total disbursements stood at 71% of last year. In terms of incremental business (on AUM basis), the nonindividual segment contributed 83% while the rest came from the individual segment. Individual loans grew by 10.4% YoY while non-individual loans grew by 15.2% YoY. The retail disbursements were affected during the quarter due to the lockdown. However, successive month-on-month trend has been...
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Number of FIIs/FPIs holding stock rose by 41 to 1924 in Sep 2020 qtr.
Housing Development Finance Corporation Ltd.    
30 Jul 2020
2059.70
0.84%
buy
by Sharekhan
Target: 2113 | Upside : 2.6%
Sharekhan
HDFC Limited's results were mixed with better-than-expected operational results (benefitted by stake sale proceeds) and sequentially improved asset quality performance but the pace of loan growth slowed (understandably due to the lockdown) and moratorium book stood at 22.4% for overall loans; (from 26% earlier), the decline was lesser compared to other peers. Net interest income (NII, Calculated) came at Rs. 3,518.8 crore, up 5% y-o-y and came better than expectations, even though assets under management (AUM) growth slowed. PAT came at Rs. 3,052 crore (up 36.7% q-o-q but was down 4.7% y-o-y, as...
Housing Development Finance Corporation Ltd. has gained 23.55% in the last 1 Month
Housing Development Finance Corporation Ltd.    
01 Jul 2020
2059.70
0.84%
buy
by Motilal Oswal
Target: 2150 | Upside : 4.4%
Motilal Oswal
However, over the past two to three years, delinquencies have increased in the corporate book due to underlying stress in the Real Estate segment as well as the proactive recognition of some stressed accounts as NPLs. When the company reports windfall gains (from stake sales in subsidiaries), it uses 30% of these gains as incremental provisions. The company follows the policy of allotting one- third of gains as provisions, which has led to net additions of ~INR157b to the Strong internal accruals of INR155b post the dividend payout are in line with our We believe rating agencies comfort level on adequate leverage based on the product mix is likely to reduce across products in this cycle, especially considering the challenges witnessed in the NBFC space over the last two years and the credit events in large entities in the past.
Housing Development .. has an average target of 2132.33 from 11 brokers.
Housing Development Finance Corporation Ltd.    
09 Jun 2020
2059.70
0.84%
buy
by Geojit BNP Paribas
Target: 2166 | Upside : 5.2%
Geojit BNP Paribas
Housing Development Finance Corporation Ltd. has gained 23.55% in the last 1 Month
Housing Development Finance Corporation Ltd.    
27 May 2020
2059.70
0.84%
buy
by IDBI Capital
Target: 1725 | Target met
IDBI Capital
HDFC's profitability declined by 22% YoY due to higher provisions; Asset quality deterioration along with Covid-19 provisions (Rs.5.5bn) resulted increase in provision (up 220% YoY). Non-individual portfolio surprised negatively for asset quality deterioration; however 26% book under moratorium seems to be lower as compared to other NBFCs (also few banks). Individual loan segment slowed down to 14% vs 16% while non-individual growth remains stable at 6%. HDFC has conservative approach towards higher provisioning as gains from subsidiary investments utilized for contingent provisions. Provisions stood at Rs.109.9bn higher than regulatory requirement (Rs.68bn). It should support asset quality...
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Number of FIIs/FPIs holding stock rose by 41 to 1924 in Sep 2020 qtr.
Housing Development Finance Corporation Ltd.    
26 May 2020
2059.70
0.84%
buy
by Nirmal Bang Institutional
Target: 2062 | Target met
Nirmal Bang Institutional
Headline NPAs impacted due to lockdown and prudent recognition HDFC Ltd (HDFC) reported NII of Rs35.6bn, which was 7% above our estimate. Growth in advances was 9.8%. Growth in the last 10-15 days of the quarter was tepid due to the lockdown. We expect FY21 to be a very subdued year in terms of growth. We are currently building in 2% loan growth (in FY21) as we believe disbursements would be low given (1) the lockdown (up to May 31st 2020) and (2) low demand due to the uncertain economic environment. Reported margin for the full year stood at 3.4% compared to 3.3% last year (FY19), an improvement of ~10bps. We note that while yields (calc.) have been rather sticky, coming off just 25bps form the levels seen...
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Number of FIIs/FPIs holding stock rose by 41 to 1924 in Sep 2020 qtr.
Housing Development Finance Corporation Ltd.    
26 May 2020
2059.70
0.84%
buy
by ICICI Securities Limited
Target: 1770 | Target met
ICICI Securities Limited
Net interest income increased ~12% YoY to | 3563 crore, attributable to lower interest cost. Reported NIM came in at 3.4% up 10 bps QoQ. Advances (net) growth were at 10.9% YoY to | 450903 crore and 1% QoQ from | 426739 crore on the back of moderation in corporate book. Individual loan portfolio increased ~12.8% YoY to | 325923 crore and accounted for ~76% of the total loan book, growth in corporate book was 6.5% YoY to | 118165 crore (26.2% of book) being cautious for a while now. Growth in individual...
Housing Development .. has an average target of 2132.33 from 11 brokers.
Housing Development Finance Corporation Ltd.    
26 May 2020
2059.70
0.84%
buy
by SMC online
SMC online
Profit on sale of investments stood at Rs 16.76 crore in Q4FY2020 compared with Rs 359.02 crore in Q4FY2019, while provision for expected credit loss jumped to Rs 1274.00 crore in Q4FY2020 from Rs 398.00 crore in Q4FY2019. PBT dipped 27% to Rs 2692.44 crore. An...
Housing Development Finance Corporation Ltd. is trading above all available SMAs