Nirmal Bang Research is bullish on HDFC and maintained ‘Buy’ rating on the stock to achieve a target of Rs 1910 within 1-5 days.

Traders can buy the stock on dips with a stop loss of Rs 1825.

Shares of the company, on Wednesday (April 15), closed at Rs 1771.55 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 81.46 and 21.23 respectively. The share price has seen a 52-week high of Rs 2950 and a low of Rs 1116.10 on BSE.

Huge volumes witnessed in last couple of days, and the structure looks very positive, so buy the stock and hold, it has strong support at Rs 1710.

Housing Development Finance Corporation Ltd (HDFC) declared that a meeting of its directors will be held on May 04, 2009, inter alia, to consider the sanction of audited financial results of the Corporation for the year ended March 31, 2009.

The Board will also mull over approval of consolidated financial results for the year ended March 31, 2009 and recommend dividend for the financial year 2008-09, if any, and matters relating to the ensuing AGM.

Mr. Deepak Parekh, Chairman, HDFC, on April 10, said that there is scope for slashing rates of interest by around 0.50-1% points with immediate effect as cost of funds for financial institutions has plunged.

Parekh’s remarks come on a day when industry heads met RBI governor D Subbarao urging him to impress upon banking institutions to slash lending rates.

There is also a need for lower interest rates in addition to deposit rates for higher financial growth, Parekh added.

During the last month, HDFC cut lending rates by 0.5%.

With this fall, HDFC's Retail Prime Lending Rate (RPLR) stands at 14%. The lender has lowered its RPLR by 1% in Dec 2008.