MOSL: HDFC BANK (Buy)-Getting bigger, better and stronger-Growth momentum intact
HDFC Bank: Getting bigger, better and stronger; Growth momentum intact; competitive positioning to improve
(HDFCB IN, Mkt Cap USD94.5b, CMP INR2416, TP INR2780, 15% Upside, Buy)
Takeaways from the Annual Analyst Meet
- We attended HDFC Bank’s (HDFCB) Annual Analyst Meet, wherein the bank highlighted the progress that its different businesses are making and the steps being undertaken to maintain its strong competitive positioning and deliver sustainable growth. HDFCB remains confident about its strategy to deepen presence in the suburban and rural regions and offer full product suite to customers. Moreover, the bank highlighted that its strong analytics, faster turnaround time and targeted customer servicing will ensure enhanced relationship value in metro/urban regions. Management also shared its views on various areas, ranging from succession planning to digital initiatives, competitive positioning, subsidiary performance and the journey ahead. This note captures the detailed takeaways from the meet and we have followed it up with our thoughts on the bank.
HDFC Bank is a commercial banking group based in India. Co. is engaged in providing banking and financial services. Co.'s operations are organized along four segments: Treasury, which includes its investment operations; Retail Banking, which serves retail customers with deposit products, loans and other services through a branch network and other delivery channels; Wholesale Banking, which provides loans, non-fund facilities and transaction services to corporations, public sector units, government bodies, and medium scale enterprises; and Other Banking Business, which includes para banking activities such as credit cards and debit cards.
Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.
Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.
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