Morgan Stanley in a Report on India's Largest Housing Finance Company HDFC Released couple of days ago said,
Our price target of Rs 2,600 is based on a probability-weighted sum-of-the-parts methodology. The core mortgage business (49%), HDFC's stake in HDFC Bank (34%) and its stake in HDFC Life (8%) account for most of our base case scenario valuation (prior to applying a 20% holdco discount to value of the stakes in subsidiaries and associates - HDFC AMC, GRUH Finance, Credila Finance, HDFC Property Fund and HDFC ERGO)
We believe the share price will rise relative to the industry over the next 30 days.
