HDFC Bank may touch Rs 960: Amit Harchekar

Amit Harchekar – Chief Technical Strategist at A PLUS Analytics is of the view that HDFC Bank may touch Rs 960.

Amit Harchekar – Chief Technical Strategist at A PLUS Analytics told CNBC-TV18, "Technically speaking  HDFC Bank  has given a strong breakout and that translates into a price target of somewhere around Rs 960-970. Although we have a neutral to bearish view on Bank Nifty at this juncture mainly because of weakness in  ICICI Bank  but HDFC Bank has been consolidating in the range of Rs 885-900. After this breakout we are expecting this momentum to extend further. So with a stoploss of Rs 885 we have a target of around Rs 960."

HDFC Bank's trailing 12-month (TTM) EPS was at Rs 38.38 per share. (Sep, 2014). The stock's price-to-earnings (P/E) ratio was 23.77. The latest book value of the company is Rs 180.10 per share. At current value, the price-to-book value of the company was 5.06. The dividend yield of the company was 0.76 percent.

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