HDFC Bank has target of Rs 715: Tulsian

Written By Unknown on Senin, 22 April 2013 | 18.00

SP Tulsian of sptulsian.com is of the view that HDFC Bank has target of Rs 715.

Tulsian told CNBC-TV18, "The expectation of good result from the HDFC Bank maybe because we are seeing the positive bias building upon all the banking stocks and that is likely to continue till the expiry i.e. on Thursday and the bank is declaring its numbers tomorrow, which are again likely to be good. So, again let the investor set the target of about Rs 715."

He further added, "We have the fear of some penalty getting imposed by RBI in view of the Cobrapost exposure also. So you have that caution prevailing on Axis Bank , HDFC Bank, ICICI Bank also. But maybe on the expectations of the better numbers, the market is gung-ho or market is little exuberant on all the banking stocks. I do not think that these kind of prices after results will also be sustaining. So, maybe tomorrow ahead of results, one maybe able to see price of Rs 710 where one should look to book a gain of Rs 30 and keep that money intact to buy them at lower levels to move to the other banking stock at that point of time."



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