Buy HDFC Bank On Dips

Buy HDFC Bank On DipsTechnical analyst Jatinder Sharma has maintained 'buy' rating on HDFC Bank stock to attain a short term target of Rs 2220.

According to analyst, the investors can buy the stock on dips.

Today, the stock of the bank opened at Rs 2178 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2518 and a low of Rs 1797.10 on BSE.

Current EPS & P/E ratio stood at 78.87 and 27.55 respectively.

HDFC Bank clients should brace themselves for an increase in EMIs as the country's second biggest bank has lifted up its base rate by 0.50% points and BPLR by 0.75% points w. e. f. Monday.

But, depositors will be capable of earning extra on their deposits as HDFC Bank has also settled to increase rates of interest on term deposit up to 1% points on a range of maturities.

During the last month, the bank inked a MoU with the Indian Army with the aim to offer them salary accounts and a collection of banking products as well as services.

HDFC Bank recorded am increase of 32.89% on year-on-year basis in its net profit at Rs 10.87 billion for the period ended December 2010

The bank's overall income during the said period remained at Rs 63.58 billion as compared to Rs 49.34 billion for the quarter ended December 2009.

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