5 Emerging-Market ADRs Outperforming Indices
3. HDFC Bank (HDB), an India-based bank, has its principal business activities in retail banking, wholesale banking and treasury operations. It has two subsidiaries: HDFC Securities Limited (HSL) offering brokerage services through Internet and other channels, and HDB Financial Services Limited (HDBFS), a non-deposit taking non-bank finance company (NBFC). The stock has advanced 1.9% in the past week
Both the analysts covering the stock rated it a buy. Analysts polled by Bloomberg expect the stock to gain an average 19.1% to $195 in the next 12 months.
Last week, TheStreet Ratings upgraded the stock from hold to buy, based on the bank's recent quarter earnings per share growth of 22% and strong gross profit margin of 62.3%. Additionally, the bank revealed last week that it has opened seven branches in the past 10 days in Jammu. Meanwhile, among private banks, the bank has the largest network of 20 branches and 40 ATMs in the state of Jammu and Kashmir.
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