HDFC Bank Limited is a leading commercial Bank of India. It was the first private sector bank in India after the permission of the Reserve bank of India to the government to establish private sector banks. It saw light from August, 1994. It was an effort by the Housing Development and Finance Corporation Limited, India.
The headquarters of the Bank are situated in Mumbai, India having financial service as the prime product. The area of operation of HDFC Bank includes banking, insurance, capital markets and allied services. As of now, it has 1,416 branches and over 3,382 ATMs installed in 550 cities in India. All the branches are linked online.
In 2008, a new feather was added to its wings when it acquired Centurion Bank of Punjab.
Mr. Aditya Puri is the current Managing Director of HDFC Bank. The Bank has won the prestigious Asian Banker Best Retail Bank in India Award 2009.
It offers three types of banking services namely personal banking, NRI banking and wholesale banking.
As per official reports, for the quarter ended June 30, 2009, the Bank earned total income of Rs.5, 136.8 crores. This makes an increase of Rs.921.6 crores over the corresponding quarter ended June 30, 2008. The net interest income plus other income, which makes the net revenue were Rs.2, 899.2 crores for the quarter ended June 30, 2009, an increase of 25.1% over the corresponding quarter of the previous year. Interest earned for the quarter ended June 30, 2009 was Rs.1, 855.6 crores, fuelled by average asset growth of 10.5% and a net interest margin (NIM) of 4.1%. The Bank’s total balance sheet has touched Rs.186, 115.0 crores.
HDFC bank is a strong player in the investment market of India. Traders find it suitable to invest money in the shares of HDFC bank for both short term and long term benefits. Moreover the share tip providing services recommend HDFC bank repeatedly in their business tips and analysis. Recent times have seen large scale buying and selling of HDFC bank shares.
Sell HDFC Bank with target of Rs 1800 and stop loss of Rs 1900, says Sudarshan Sukhani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1887, up 0.4% on the BSE.
Sell HDFC Bank with target of Rs 1920 and stop loss of Rs 1995, says Sudarshan Sukhani, technical analyst, on CNBC TV18. The stock is currently trading at Rs 1955, down 0.5% on the BSE.
Hold HDFC with target of Rs 3600 on crossing its resistance of Rs 2860, says Kiran Jadav, technical analyst, on NDTV Profit. The stock is currently trading at Rs 2793.75, down 0.9% on the BSE.