HDFC Bank has become the first bank in India to achieve a major milestone of having two crore credit cards in force. With a market share of about 21%, HDFC Bank has issued 9.6 crore credit cards, as per RBI data. The bank has also reported a 28.6% share of spends as of March 31, 2023. HDFC Bank launched its credit card business in 2001 and has consistently grown its portfolio over the years.
With current market price of ₹373.9, Balrampur Chini Mills has a buy call from HDFC Securities, giving out a target price of ₹397. The mid-cap company running in the sugar sector has Key Revenue Segments of Sugar, (industrial) Alcohol, Power, Bagasse, Export Incentives and Others. The total income of the company at the end of second quarter is ₹ 1094.59 Crore, lower from both last quarter and last year’s same quarter, by 15.24% and 4.46% respectively.
The Large-Cap construction company Larsen & Toubro has current market price of ₹1893.3 and is called a buy with target price of ₹2135, which will be touched in one year according to analyst, by HDFC securities. With a net profit of ₹2293.01 Crore of last quarter, the company’s total income of this quarter is ₹36547.92 Crore. Keys products of revenue include construction work, manufacturing and trading activities, and more.
HDFC Securities has a sell call on Vinati Organics, a chemicals operating Mid-Cap company. With the company’s shares current price at ₹2225.2, HDFC has set a target price at ₹1765, which is to be reached by said target in a year, said by analysts. The said target price is lower due to lower margin iso butyl benzene (IBB), kept in comparison to ATBS having a much higher margin. The organics company ended this quarter with a profit of 4.75% than last quarter, totaling income at ₹525.01 Crore.
