India's HDB Financial gains; Jefferies starts with 'buy'

HDB Financial Services

18/08/2025 08:17

** HDB Financial Services HDBF.NS rises 2.6% to 780 rupees

** Jefferies starts with "buy"; sets PT at 900 rupees, an 18.4% upside from last close

** Says co a well-rounded lending franchise with diversified portfolio of 13 loan products, deep distribution network, large customer base of 20 mln; funding cost competitive given its AAA rating

** Expects co's AUM growth to improve H2 onward; NIMs to expand by 30 bps over FY25-FY28

** HDBF falls 6.7% since listing on July 2

 (Reporting by Anuran Sadhu in Bengaluru)

 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))