HDFC Stock Hits New 52-Week High (HDB)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- HDFC Bank (NYSE: HDB) hit a new 52-week high Thursday as it is currently trading at $43.05, above its previous 52-week high of $43.02 with 324,956 shares traded as of 11:30 a.m. ET. Average volume has been 758,000 shares over the past 30 days.

HDFC has a market cap of $33.41 billion and is part of the financial sector and banking industry. Shares are up 3.7% year to date as of the close of trading on Wednesday.

HDFC Bank Limited, together with its subsidiaries, provides retail banking, wholesale banking, treasury, and other financial services to individual and business customers in India. The company has a P/E ratio of 34.5, above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates HDFC as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, expanding profit margins, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full HDFC Ratings Report.

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