Karvy Stock Broking Views on HDFC Bank, Petronet LNG

Petronet LNG - Target of Rs 63

Karvy Stock Broking has changed its rating on Petronet LNG from market performer to buy with a target of Rs 63 in its October 15, 2008 research report. "For FY09, we expect the revenue growth of 9.8% to Rs 71,948 million and adjusted profit to rise by 11.9% to Rs 5,309 million. We maintain our target price of Rs 63, but change our rating from Market performer to BUY due to the fall in market price," says Karvy Stock Broking's research report.

HDFC Bank - Target of Rs 1435

Karvy Stock Broking has recommended a buy rating on HDFC Bank with a target of Rs 1435 in its October 15, 2008 research report. "In FY2008-10, we expect that the bank's total business, NII and net profit would grow by 32%, 34% and 31.3% CAGR respectively. Though in FY09, there would slight strain on margin but it would still remain strong at 4.57% (around 38 bps lesser) and thereafter it would improve to 4.7% in FY10. The bank is expected to report RoAA of 1.3% and RoAE of 17%."