Finance corporation

HDFC Shares: Buy Housing Development Finance Corporation, Target Price Rs 2450: Chandan Taparia

Chandan has a call to buy with a target price of Rs 2450. The current market price of . is Rs 2344.85.

Housing Development Finance Corporation Ltd., incorporated in 1977, is a large capitalization company (having a market capitalization of Rs 425220.99 Crore) operating in the NBFC sector.

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

Finance

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 revenue of Rs 30997.13 Crore. The company reported a net profit after tax of Rs 3388.96 Crore last quarter.

Investment rationale
Breaking out of price volume on the daily frame and turning away from its support by breaking through its resistance zones


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%.

(Disclaimer: The recommendations given in this section or any report attached hereto are authored by an external party. The views expressed are those of the respective authors/entities. These do not represent the views of The Economic Times ( ET).ET does not warrant, for, endorse any of its content and hereby disclaims all warranties, express or implied, relating thereto. Please consult your financial adviser and seek independent advice.