Buy HDFC With Stop Loss Of Rs 652

Buy HDFC With Stop Loss Of Rs 652Technical analyst Jatinder Sharma has maintained 'buy' rating on Housing Development Finance Corporation Limited stock with a target of Rs 695.

According to analyst, the investors can buy the stock with stop loss of Rs 652.

The said target can be attained in a period of 2-3 trading sessions.

The stock of the company, on March 14, closed at Rs 453.75 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 780.05 and a low of Rs 519.80 on BSE.

Current EPS & P/E ratio stood at 22.67 and 29.09 respectively.

HDFC said that it will make investment in Kaizen asset management company, the manager for India's initial education-centered PE fund, Kaizen Private Equity.

HDFC will make investment in the education segment via its completely owned arm, HDFC Holdings Ltd.

While the transaction size was not revealed, the sources stated that HDFC would hire a functionary on the board of Kaizen.

Mr. Sandeep Aneja, founder and MD of Kaizen PE, "This partnership is complementary, as it leverages HDFC’s presence and strengths with the significant domain expertise provided by Kaizen’s in-house team."

HDFC Ltd recorded a growth of 32.72% in its net PAT, which stood at Rs 8,908.80 million for the three month period ended December 2010 as against Rs 6,712.50 million during for the same period last year.

Total income surged 20.23% to Rs 33,210.40 million for Oct-Dec ended Dec 2010 as against Rs 27,622.10 million for the same period ended Dec 2009.