Housing Development Finance Corporation (HDFC) share price gained 1.6 percent intraday after global brokerage firm CLSA feels earnings growth of the company will accelerate & the stock is available at an attractive valuation.
The research house has maintained Buy call on the stock with a target price at Rs 2,200 per share, saying the housing finance company is among top picks in the sector.
"Core operating profit is estimated to see a 20 percent CAGR over FY18-21. Sustainable core return on equity of 18-20 percent will aid in its rerating," CLSA said.
Greed & Fear has recommended investors to buy into the Indian property sector as affordability remains at the best level in 15 years and developers' pre-sales are rising, Chris Wood of CLSA said.
In HDFC Bank & Indiabulls Ventures, investments will be increased by 1 percentage point each, he said, adding that investments will be paid for by shaving IndusInd Bank & SBI Life.
Shares of UPL gained around 3 percent after Deutsche Bank reiterated its buy call on the stock with a target of Rs 890 apiece.
The global investment bank is betting on cross currency movements being favourable for the company so far.
It also expects constant currency revenue growth to meet the upper end of guidance. Along with it, the margin could expand, driven by backward integration.
Deutsche Bank also expects 18 percent EPS CAGR in FY18-20.
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