External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Indian Financials: Momentum Returns to Key Overweight

Nikkei 27k Pivot Hangs in the Balance - Fresh Buy/Sell Levels

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>HDFC Bank is a leading private sector bank with consistent growth and operational performance over various cycles</li><li>The bank has maintained superior return ratios compared to its peers resulting in premium valuations</li><li>We value HDFC Bank at ~3.7x FY24E ABV and Rs 50 for subsidiaries and maintain our target price at Rs 2000 per share</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

HDFC Bank is a leading private sector bank with consistent growth and operational performance over various cyclesThe bank has maintained superior return ratios compared to its peers resulting in premium valuationsWe value HDFC Bank at ~3.7x FY24E ABV and Rs 50 for subsidiaries and maintain our target price at Rs 2000 per shareContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HDFC Bank: Gradual Acceleration, Capability Build-Up in Focus