Shares of HDFC Bank gained around a percent intraday on Friday as investors cheered an increase in target price.
The global research firm said that the bank is leveraging its strength on CASA/capital/asset quality/size to gain market share. It also sees an earnings CAGR of 20 percent in FY17-20.
The firm also highlighted the fact that Aditya Puri is set to retire on October 20 and that smooth transition is key for the bank. Further, two key challenges could be to maintain the credit quality and the transition mentioned above.
Mahindra and Mahindra share price fell nearly 3 percent intraday Friday ahead of GST Council meet with respect to cess hike on SUVs and luxury cars.
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