Analyst View:
HDFC has performed well in the previous years we can see that from last 10 years the profits of the company has increased on YOY basis except for FY2021 and in the upcoming years we can expect the same as the management seems to be very positive.
Company reported net profit after tax of ₹ 3179.83 Crore in latest quarter. The stock has turned upwards after breaking out of a narrow consolidation phase on good volumes. There is high possibility that the company will give better returns and sustainable growth in coming years.
Technical Analysis :
1. The price consolidated in the rectangle channel for a long a time before giving a breakout.
2. The resistance of 2635 became support and a new resistance is formed at around ₹ 2765. There is an immediate support at ₹ 2690.
3. The RSI is at 67.34 and is above the neutral zone showing a bullish trend.
4. The EMA 20 crossed EMA 50 in the first week of August showing a bullish trend with positive volumes.
Ratio Analysis
1. The ROE was improving YOY but a sharp decline in it can be observed here in 2021 where the ROE is 1.74 as compared to 2.46 in its previous year.
2. Similar trends can be observed in P/E Ratio & EPS for the year 2021
3. As the above data suggests, the EBIT Growth (%), PAT Growth (%),EPS Growth(%) has shown a negative growth in the year 2021
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