![]() Its product offering, together with direct access to insurance and other services, is superior to that of the majority of private banks, as is its geographic reach. It said that HDFC Bank has access to a sizable customer base as well as secured and extended tenor retail mortgage products. "We believe the merger with parent HDFC is positive from a medium-term perspective, given the opportunity for liability refinancing, cross-sell, addition of book duration and lower share of unsecured loans," said JPMorgan in a report on July 11.Įarlier, Morgan Stanley had also maintained an 'overweight' rating on the stock with a target price of ₹2,110.Īccording to the brokerage, the merger between HDFC and HDFC Bank is synergistic. JPMorgan assigned an 'overweight' rating on the stock, pegging the target price at ₹2,000, citing the merger of HDFC with HDFC Bank is positive from a medium-term perspective. ![]() On the other hand, analysts believe HDFC Bank shares can see more upside after the merger. TCS stock price rallied nearly 8% in the last one week, taking its market capitalization to above ₹12.8 lakh crore on Friday. Meanwhile, TCS share price has seen a sharp rally in the last week after the IT giant announced its June quarter results. On July 13, shares of mortgage lender Housing Development Finance Corporation (HDFC) got delisted from Indian bourses after its $40 billion worth reverse merger deal with HDFC Bank.Īs per the share exchange ratio of the merger, for every 25 shares of HDFC, 42 shares of HDFC Bank were issued to the former’s shareholders. ![]() In the list of biggest banks in the world as per market capitalisation, HDFC Bank is just behind JPMorgan, Bank of America, China's ICBC, Agricultural Bank of China, Wells Fargo and HSBC, data showed.Īlso Read: HDFC Bank Q1 Result: HDFC Bank Q1 net profit rises 30% YoY to ₹11,952 crore NII jumps 21% It has grown bigger than Morgan Stanley, Goldman Sachs and Bank of China, according to data on. With a market value of over $151 billion, HDFC Bank is now the world’s seventh largest lender. ![]()
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