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HDFC Bank (HDBK.BO)
Research Tactical Idea
We believe the share price will rise in absolute terms over the next 15 days.
The bank reported earnings for 1Q12 which were very strong. It met estimates despite continuing to make a meaningful
amount of counter-cyclical provisions (it is the only Indian bank doing this). This, coupled with strong balance sheet –
11.9% tier 1, 153% coverage – will likely keep stock price strong.
We estimate that there is about an 80%+ or "highly likely" probability for the scenario.
Estimated probabilities are illustrative and assigned subjectively based on our assessment of the likelihood of the
scenario.
Stock Rating: Overweight
Industry View: Cautious
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
HDFC Bank (HDBK.BO)
Research Tactical Idea
We believe the share price will rise in absolute terms over the next 15 days.
The bank reported earnings for 1Q12 which were very strong. It met estimates despite continuing to make a meaningful
amount of counter-cyclical provisions (it is the only Indian bank doing this). This, coupled with strong balance sheet –
11.9% tier 1, 153% coverage – will likely keep stock price strong.
We estimate that there is about an 80%+ or "highly likely" probability for the scenario.
Estimated probabilities are illustrative and assigned subjectively based on our assessment of the likelihood of the
scenario.
Stock Rating: Overweight
Industry View: Cautious
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