CMP: 464

HDFC Bank Ltd. offers a wide range of services to the global corporate sector. The Bank provides corporate banking and custodial services and is active in the treasury and capital markets. HDFC also markets project advisory services and capital market products such as Global Deposit Receipts, Euro currency loans, and Euro currency bonds.

Its time to buy strong blue chips. Among banks, HDFC ranks best in-terms of growth in the last 5 years and the prospects look good for future as well. Revenues have raced from less than 7000 Crores to almost 20,000 Crores in the last 5 years. Profits in the same period has raced more from 1141 Crores to almost 4000 Crores aided by NPM growth. NPM has grown from less than 17% to almost 20% which is pretty strong for a large-cap. Its currently trading at a P/E of 25 which is fair for its growth. Under turbulent times, its a safe haven for investors.