NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
PL Capital Report
PL Capital has trimmed its multiple to 1.9 times from 2.1x. and trimmed HDFC Bank Ltd.'s target price to Rs 950 from Rs 1,040 and manintained ‘Buy' on the stocks.
HDFC Bank informed exchanges on August 29, that Mr. Jagdishan has decided not to seek re-appointment as MD & CEO upon completion of his current term on Oct, 26 2026, despite board's persuasion; his exit comes after challenges on corporate governance.
While the Board has not announced a successor, Mr. Kaizad Bharucha (Deputy MD) may be appointed to bring stability, and he is eligible to be in office under RBI norms until Apr'29.
ALSO READ: SBI FM Rated 'Buy' On Motilal Oswal's Coverage Initiation — Check Target Price
The bank may also put forward an external name. This event would be negative and near-term pressure may persist till succession clarity emerges, although stock is attractive at 1.4x Mar'28E core ABV, (30% discount to ICICIB) but medium-term return would hinge on strategy and execution.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
