IDFC has an outperform rating on HDFC Bank as it expects the lender to continue posting healthy earnings going ahead.
The Reserve Bank of India's liberal norms for affordable homes may pave way for the merger of Housing Development Finance Corporation and HDFC Bank . The central has removed reserve requirements for infrastructure funding and affordable home loans through long-term bonds.
In an interview to CNBC-TV18, Manish Chowdhary of IDFC Securities and Ashit Shah of J Sagar shared their views on what will this merger mean, if it happens and of the two entities who will benefit more.
According to Chowdhary, this merger will lessen the cost of merger entity and the cost of transition will also decline as cost of regulation reduces.
Also, this merged entity would be the country's second largest financial services player post State Bank of India (SBI). Chowdhary expects the merged entity to benefit HDFC Bank particularly.
IDFC has an outperform rating on HDFC Bank as it expects the lender to continue posting healthy earnings going ahead.
Also Read: Fixing NPA problem of banking sector, step by step
Meanwhile, Ashit Shah added that one cannot compare IDFC & IDFC Bank merger with this one and RBI requirements for HDFC merger might be different for IDFC.
Transcript to follow shortly
HDFC stock price
On July 21, 2014, at 11:14 hrs Housing Development Finance Corporation was quoting at Rs 999.55, up Rs 18.50, or 1.89 percent. The 52-week high of the share was Rs 1045.20 and the 52-week low was Rs 632.20.
The company's trailing 12-month (TTM) EPS was at Rs 34.72 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 28.79. The latest book value of the company is Rs 178.41 per share. At current value, the price-to-book value of the company is 5.60.
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