Anil Singhvi wealth creation pick: Zee Business Managing Editor Anil Singhvi recommends going long on HDFC Bank shares. He expects HDFC Bank — the country's largest lender by market value — to benefit from its merger with Housing Development Finance Corporation (HDFC).

Anil Singhvi shares target prices as high as Rs 2,500 for HDFC Bank shares 

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Singhvi has laid out targets of Rs 1,850, Rs 2,200 and Rs 2,500 apiece for HDFC Bank shares from a perspective of 1-3 years. His highest target implies an upside potential of 59.9 per cent in the HDFC Bank stock. 

Why Anil Singhvi likes HDFC Bank shares

Singhvi has mentioned a few factors as the main rationale behind his call on HDFC Bank shares:

  • HDFC Bank has a chance to enter top 10 financial institutions around the globe after meger with HDFC
  • Merged entity could be included in MSCI index; if that happens, one can expect buying to the tune of $3-4 billion 
  • HDFC Bank is among FIIs' favourite stocks
  • Strong asset quality 
  • Good track record; return on investment double in five years
  • Reasonable valuation

ALSO READ: Anil Singhvi shares his top wealth creation picks, expects two of them to double!

What ICICI Securities makes of HDFC Bank

ICICI Securities has maintained a ‘buy’ call on HDFC Bank with a target of Rs 1,874 apiece, implying upside potential of 19.9 per cent. The brokerage believes that HDFC Bank has strong growth and with improving asset quality.

Also Read: Finance Minister removes income tax benefit from debt mutual funds, how will investors and AMC be affected? 

HDFC Bank: Historical performance 

HDFC Bank shares have declined nearly four per cent so far in 2023, still better than a 6.3 per cent fall in the Nifty headline index.

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