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HDFC Bank
Strong earnings trajectory to
continue
Having met with management today at our 2011 Asian Stars Conference in
Singapore, these are some of our takeaways...
Very comfortable on asset quality for the bank. Management also feels that
slippage at the sector level is not very substantial and manageable.
Expects sector loan growth of around 19% even assuming some moderation in
macro. Bank to grow at least a few percentage points higher to 22-24%.
Expects GDP growth to still be at between 7.7% and 8%. Expects more visible
reforms over next few months. Consumer and rural remain key growth drivers.
Expects margins to be broadly stable at +4% levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
HDFC Bank
Strong earnings trajectory to
continue
Having met with management today at our 2011 Asian Stars Conference in
Singapore, these are some of our takeaways...
Very comfortable on asset quality for the bank. Management also feels that
slippage at the sector level is not very substantial and manageable.
Expects sector loan growth of around 19% even assuming some moderation in
macro. Bank to grow at least a few percentage points higher to 22-24%.
Expects GDP growth to still be at between 7.7% and 8%. Expects more visible
reforms over next few months. Consumer and rural remain key growth drivers.
Expects margins to be broadly stable at +4% levels.
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