69643D(15Oct2013 11:09:59) : HDFC Bk : Positive Highlights - Loan growth likely to be higher than the industry (+19%). Negative Highlights – a) Treasury contribution likely to remain weak, b) Margins to decline marginally (10 bps QoQ). c) Marginal increase in delinquencies as stress in few retail segments (CV segment) has increased. Positive Surprise - negligible floating provisioning and asset quality improvement could surprise positively. Overall earnings estimated to grow below its consistent trend of 30%+ YoY growth on the back of higher provisioning. Delivery volumes - The stock has seen OI drop from 30/09 to 09/10 with price surging, clearly implying short covering. Yesterday a big jump in DEL. QTY with price & OI also moving up; indicates Bullish sentiment developing in expectation of results. We have Positive Medium term view on the stock. However Rs. 680 to act as a strong resistance in the short term
Posted on: Tue, 15 Oct 2013 05:51:03 +0000
Trending Topics
Recently Viewed Topics
© 2015