VOLUME 02 | ISSUE: 02 | JANUARY, 2015 | PRICE: ` 5.00

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MAKE A RIGHT BEGINNING IN THE NEW YEAR. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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CORPORATE FIXED DEPOSIT RECKONERMUTUAL FUND RECKONER. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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5 TOP STOCKS FOR 2015

This is that time of the year when millions of people across the globe cross their heart and make a promise to do something good. It could be about living a healthier lifestyle, eating right or spending quality time with family and friends. But what are you doing to make you heard earned money feel better?

Just 4 simple New Year Resolutions, which will help you, stay nancially t in 2015.

1. BUILD WEALTH AND SAVE TAXES WITH ELSSEquity Linked Savings Scheme (ELSS) is a diversied equity mutual fund, which invests majority of the corpus in equities. What works to your advantage is the dual benet of market-linked returns and tax savings.

Tax ImpactYou can claim up to Rs. 1.5 lakh of your ELSS investment as a deduction under Sec 80C of the Income Tax Act. Example: If you invest Rs 1.5 lakh,

You will get a tax deduction on the entire investment amount. The nal corpus at maturity is tax-free. If you opt for dividend option, dividends are tax-free. No long-term capital gains tax as the lock in period is 3 years.

ELSS Performance Tracker Annualised Returns*Scheme Name 3 years

Reliance Tax Saver Fund 40.11%

Axis Long term equity fund 36.86%

ICICI Prudential Tax Plan 31.31%

HDFC Long Term Advantage Fund 27.03%

RNI No.:MAHENG/2013/54009. Postal Regn No.: MH/MR/N/267/2014-16 WPP Licence No MR/TECH/WPP-84/NORTH/2014 Licence to post without prepaymentDate of Publication 5th of every month, posted at Mumbai Patrika Channel Sorting Oce Mumbai 400001 on 11th to 15th of every month

How to invest?-> Log in to your trading account

-> Click on Mutual Fund Tab

-> Create NAV watch

-> Place Order

5 Top Stocks for 2015

*As on 30th December 2014. Source: Value Research

State Bank of India

Power Grid Corporation of India Ltd

Larsen & Toubro

KPIT Technologies Limited

Dewan Housing FinanceCorporation Limited

Portfolio Check-up

Have you seen your latest Investment Portfolio Summary? This will highlight

1. The current market value of your investments

2. Real time impact of stock movements on your investments

3. Average cost of investments

4. Impact of Capital gains on your investments

Log in to My Page, click on Portfolio and download report.

2 | INVEST RIGHTLY TODAY JANUARY 2015

Has the volatile market kept you away from buying stocks?Dont let the vagaries of the market aect your investment strategy. Instead make it work to your advantage by adopting a disciplined investment strategy in stocks or ETFs. Through DIYSIP, you can buy pre-specied quantity of stocks/units at regular intervals over a period of time. DIYSIP option is available in stocks, Gold ETFs and Index ETFs. You can Invest, Track and Manage your DIYSIP investments online through your trading account.

4. BUILD AN ENDURING RETIREMENT INCOMERetirement isnt what it used to be. Increase in longevity, higher ination, absence of retirement benets in most private sector set-ups has changed the ball game of retirement planning.

In simple words, todays retirees are living longer, active and independent for most of their golden years. A 65 year old, for instance, needs to plan for a retirement that can last 30 years or longer. National Pension System (NPS) ts as a good retirement solution for 3 reasons.

It invests in equity. Hence it can beat ination The equity exposure is capped at 50%. Hence the risk quotient is under check If you are a risk-averse investor, you can avoid equity investing altogether.

5 simple steps to subscribe for NPS Login using Trading User id Password Click on Online NPS Enter your details & Print the form Attach KYC documents Forward it to nearest HDFC sec branchTax Impact Your contribution up to 10% of (basic + DA) is deductible under Section 80 CCD within the limit of Rs 1.5 lakh Employer's contribution up to 10% (basic + DA) is allowed as deduction under Section 80CCE over Rs 1.5 lakh limit Employer can claim tax benets by showing amount contributed towards employees pension as 'business expense.

2. COVER THE PERILS WITH INSURANCEThe conventional thought is life insurance is often sold and not bought. And the sales pitch for term plans was even weaker as it didnt oer a return on investment. But this notion was challenged by online term plans, which are available at attractive prices

Tax ImpactPremiums paid for all life insurance policies (term plans, ULIPs, pension plans, endowment plans) are exempt from tax up to a maximum of Rs 1.5 lakh

The claim amount received by your family or bonus in the hands of the policyholder is also tax free under Section 10 (10D).

*Family includes spouse and children

3. MAKE HEALTHY TAX SAVINGSHealthcare costs have gone through the roof. A health insurance policy will prevent you from burning a hole in your pocket in the new year.

Tax ImpactHealth insurance helps you save additional taxes over and above the Rs 1 lakh limit as oered under Section 80 C. Health Insurance covers helps you get tax benets up to Rs 35,000 under Section 80 D

Policy Coverage

For yourself and your family*

For your Parents (above 60 years)

Total (for self & Parents over 60)

Premium Payment

Rs 15000

Rs 20000

Rs 35000

Tax Deduction under Section 80 D

Rs 15000

Rs 20000

Rs 35000

To buy Life Insurance, visit www.hdfcsec.com

Make a Right Beginning in the New Year

6 REASONS TO CHOOSE DIYSIP Light on Pocket: No burden of lump sum investments at a single time.

Lowers Average Cost: Participation in bull and bear cycles, lowers the average cost of purchase.

Freedom of Choice: Be the fund manager of your portfolio by choosing stocks, Gold ETFs or Index ETFs, you believe in.

Power of Research: Make an informed decision based on our stock picks

Flexibility: No lock-in period. Sell, pause or hold based on your convenience

Discipline: This helps you avoid timing the market. Instead This strategy works to your advantage especially in a volatile market.

How to place a DIYSIP orderStep 1: Log in to your trading account Step 2: Create a SIP Basket Step 3: Choose The Frequency, period and the start date

Step 4: Choose the exchange, company scrip/ ETF. Enter the investment amount Step 5: Agree to Terms & Conditions. Conrm order

3 | INVEST RIGHTLY TODAY JANUARY 2015

MUTUAL FUND RECKONER

Legends: 1. 1.NAV value as on Dec 25, 2014. Portfolio data as on Nov 2014. 2. Returns are trailing and annualised (CAGR). 3. The notations '5 Star & CPR 1' (used by VR & Crisil respectively) are considered as top in respective rating and ranking scales. 4. The performance of the funds are rated and classied by Value Research in the following ways. Top 10% funds in each category were classied ***** funds, the next 22.5% got a **** star, while the middle 35% got a

***, while the next 22.5% and bottom 10% got ** and * respectively. 5. The criteria used in computing the CRISIL Composite Performance Rank are Superior Return Score, based on NAVs over the Quarter Ended Sep 2014, Based on percentile of number of schemes considered in the

category, the schemes are ranked as follows: CPR 1- Very Good performance, CPR 2 - Good performance, CPR 3 - Average performance, CPR 4 - Below average and CPR 5 - Relatively weak performance in the category. 6. Schemes shortlisted based on the corpus and age. Final picks arrived from return score (respective weightage given for rolling returns for 1m, 3m, 6m, 1yr, 2yr & 3yr) and risk score. Schemes from Quantum, Mirae and

JM Mutual Funds have not been considered.

*T&C

APP

LY

NAV Fund 1 Year 3 Year 5 Year Return Crisil Value SCHEME NAME (`) Size Return Return Return Since Top holdings Rank Research Risk Grade Return (Crs. `) Inception

EQUITY - DIVERSIFIED - LARGE CAP

HDFC Equity Fund - (G)

460.91 18399 52.29 27.65 14.96 21.12 SBI, ICICI Bank, Infy, L&T

CPR 3 3 Star High

High

Aurobindo Pharma

ICICI Pru Focused Bluechip 28.24 8425 39.46 24.12 15.71 17.06

HDFC Bank Ltd, Infosys Ltd, ICICI Bank Ltd, CPR 3 5 Star Low High

Equity Fund (G) ITC Ltd, Maruti Suzuki India

EQUITY - DIVERSIFIED - MULTI CAP

ICICI Pru Dynamic Plan (G)

182.27 5647 36.40 26.38 14.89 26.97

Power Grid Corp, ICICI, CPR 2 5 Star

Below High

HDFC Bank, Bharti Airtel & SBI Average

Reliance Equity 72.02 10347 57.05 33.18 19.99 22.45

HDFC Bank, Divi's Lab, SBI, Trent CPR 1 3 Star

Below Average

Opportunities Fund (G) Bharat Forge Average

EQUITY - DIVERSIFIED - MID & SMALL CAP

Reliance Small Cap Fund (G) 23.40 1320 95.77 44.55 - 22.00

LG Balakrishnan & Bros, TVS Motor Co., CPR 1 5 Star Average High

Atul, HDFC Bank & Orient Cement

ICICI Pru Value Discovery 105.06 7690 70.58 38.20 21.32 25.48

ICICI Bank, RIL, Sadbhav Engineering, CPR 2 5 Star Low

Above Fund (G) PI Ind & Amara Raja Bat Average

AXIS Midcap Fund (G)

24.13 874 73.22 39.46 - 25.71 CMC, ING, Federal Bank, DB Corp,

CPR 3 4 Star Average Above

Mphasis

Average

HYBRID - EQUITY ORIENTED (AT LEAST 60% IN EQUITY)

HDFC Balanced Fund (G)

103.09 2813 49.05 26.53 18.31 17.73 SBI, ICICI Bank, Axis Bank,

CPR 2 4 Star Below

High

Aurobindo Pharma & L&T Average

ICICI Pru Balanced 24.32 4721 28.27 23.27 14.75 11.77

HDFC Bank, Motherson Sumi, City Union Bank, CPR 1 5 Star

Below

Above Fund - (G) Maruti Suzuki Ind & ICICI Bank Average Average

MONTLY INCOME PLAN Reliance Monthly

32.08 2354 23.14 13.79 9.98 11.19 HDFC Bank Ltd, TCS, L&T,

CPR 2 5 Star

Low High Income Plan (G) HDFC Ltd, ITC Ltd

HDFC Monthly 33.84 3679 24.49 13.93 10.33 11.72

Eq: SBI, Infy, ICICI Bank, L&T. CPR 2 3 Star Average Average

Income Plan - LTP (G) Debt: TATA Power, Hindalco Inds

CORPORATE FIXED DEPOSIT RECKONER

Disclaimer: These rates were applicable as on December 31, 2014. For the latest rates, refer to our website www.hdfcsec.com

Company Name Rate of Interest (p.a.)* Credit Rating

Bajaj Finance Ltd up to 9.75 % CRISIL - FAAA

Shriram Transport Finance - Unnati up to 10.50% CRISIL - FAA+ & ICRA - MAA+

Mahindra & Mahindra Financial Services up to 11.13% CRISIL Rating - FAAA

PNB Housing Finance Ltd. up to 9.40% CRISIL - FAAA

HDFC Limited up to 9.30% CRISIL- FAAA & ICRA - MAAA

LIC Housing Finance up to 9.40% CRISIL - FAAA

Gruh Finance Ltd up to 9.00% CRISIL - FAAA,ICRA-MAAA

Sundaram BNP Paribhas Home Finance up to 9.50% MAA+ - ICRA

To Invest: Email us at fd.online@hdfcsec.com | For details: Visit www.hdfcsec.com

4 | INVEST RIGHTLY TODAY JANUARY2015

:

CALL 39019400 PREFIX LOCAL AREA CODE. (0 + LOCAL AREA CODE + 39019400) ORHDFCSEC INVEST TO 575758 OR CALL ANY OF OUR OVER 200+ BRANCHES

Printed and Published by Anil Daniel, on behalf of HDFC securities Limited, and printed at Anitha art Printers, 29/30 Oasis Industrial Estate, Next to Vakola Market, Santacruz (E), Mumbai 400 055, and published at 29/30 Oasis Industrial Estate, Next to Vakola Market, Santacruz (E), Mumbai 400 055. Editor: Shyam Kapdi, Vidyalaxmi Venkatramani.

ANDHRA PRADESH: Ananthapur: 08554220061 / 39, Guntur: 0863 2212863 - 69, Hyderabad: Ameerpet: 040 40033480 - 86, ECIL -Sainikpuri: 040 27140360 - 65, Lakdikapul: 040 30479243 / 4, Saroornagar: 040 24143471 / 21, 33560562 / 63, Karimnagar: 0878 2261138 /39 / 42 / 32 / 35, Khammam: 08742 308123 -26, Kurnool: 08518 256051 / 53 / 54 / 90 / 91, Nellore: 0861 2330702-04, 6621011-15, Ongole: 08592 284502 - 04, Rajahmundry: 0883-2435695 / 91, 2477843, Secunderabad: 040 66175910-20, 42016514-19, 420320334-43, Vijayawada: 0866 2498047 - 49 / 59, 6665018 / 19, 2498019, Vizag: 0891 2796625, 3065175, Warangal: 0870 2573907, 2573900 ASSAM:Guwahati: 0361 2467104-07, 6117780 - 86, Jorhat: 0376 2304091, 2304133, BIHAR: Gaya: 0631 2220425 / 564, Muzaarpur: 0621 2265591 - 99, Patna: 0612 2216419/ 23-25, CHHATTISGARH: Bhilai: 0788-2290276 / 269 / 318 / 246, Raipur: 0771 2274200, 2274300, 2273366, 4074345 / 49. DELHI: Delhi: Barakhamba Road: 011 43563771, 43563756, Chandni Chowk: 011 23240528-36 Rohini: 011 49816801-05, New Delhi: Bhikaji Cama: 011 26163652 / 55-57, 26163660, 26164805, 41082112-115, Dwarka: 011 43048037 - 42, Laxmi Nagar: 011 45152780 / 81 / 88, 22526742 - 44, GOA: Margaon: 0832 - 2700144 / 47/ 54, 6486005 / 06, Panjim: 0832 6632802 - 05, GUJARAT: Ahmedabad: Bopal: 9228009601 - 04, Maninagar: 079 25466931 - 34, Navrangpura: 079 66072933 - 42, Sabarmati: 079 27517163 - 64, Shiv Ranjani: 079 66612340-43, Anand: 02692 644770, Bharuch: 02642 252633 - 40, Bhavnagar: 0278 2570145-47, 0278 6450124-39, Gandhidham: 02836-658801-07, 227229, 228229, 235229 Gandhinagar: 079 65724500-07, Himmat Nagar: 02772 246052 / 53 / 54, 247051 / 52, Jamnagar: 0288 6454401-16, Junagadh - Saurashtra: 0285 6546201 - 08, 2670381 / 82, Mehsana: 02762 259816-20, Palanpur: 02742 251201-10, Porbandar: 0286 - 2211201 / 02 / 03 /04 /05 / 06 /07 / 08, Rajkot: 0281 6643801/ 29, 2232181 83 / 2232187, Surendra Nagar: 02752-230322 / 23 / 24 / 25 / 26 / 27 /28, Surat: City Light: 0261 4014070-73, Manjura Gate: 0261 4004601-18, Vadodara: 00265 2353418 / 20, Vapi: 0260 6455501 - 08, Veraval: 02876 - 223048 / 49 / 50 / 51 / 52 / 53 / 54 / 56 / 57 HARYANA: Faridabad: 0129 4251808, 4251800-806, Gurgaon: Sec-14, Delhi Ncr: 0124 4220490-95, DLF Phase - I, Arjun Marg: 0124 4063880 - 91, Hisar: 01662 272256/57, Karnal: 0184 2260029 - 32 / 34, Rohtak: 01262 211078 / 79, Yamuna Nagar: 01732 261235-39, Panipat: 01804016845/ 4015845, HIMACHAL PRADESH: Dharmashala: 01892 227094-98, Mandi: 01905 221701-5, Shimla: 0177 2629793 / 82, JAMMU & KASHMIR: Jammu: 0191 2479389 / 91, Srinagar: 0194 2485349 / 373 JHARKAND: Dhanbad: 0326 2300174 / 82 / 83 / 99, Jamshedpur: 0657 2235921 / 12 / 14 / 16, Ranchi: 0651 2561481- 88, KARNATAKA: Bangalore: Btm - Blr: 080 26782273, 42106571-73, Rajaji Nagar: 080 30923700-02, Jayanagar: 080 080 26542080 / 81, 41566143 / 44, Koramangala: 080 25524960 / 961, M.G. Road: 080 25575801 / 02, Belgaum: 0831 2445502 / 03, Bellary: 08392 258913, Davangere: 08192 232611, 232627, Gulbarga: 08472 261229, 261225, Hubli: 0836 2258767 / 68, Mangalore: 0824-4252569 -2459588 / 91, Mysore: 0821-4194193 / 95 / 96 / 97. KERALA: Angamali: 0484 2457432, 2457496, Calicut: 0495 4488555 / 506 / 507 / 509 / 510, Chalakudy: 0480 2707144 / 2708144, Kochi: 0484 4064516 / 517, Kochi - Nri: 0484 4064509 / 512, Guruvayoor: 0487 3011840-49, Palakkad: 0491 2529280-85, Thalassery: 0490 2342020, 2341420, 2323820, 2327120, 2343120, Trissur: 0487 2425711-18, Tiruvalla: 0469 2624110 / 11, 2600533, Trivandrum: 0471 4466094-98, MADHYAPRADESH: Bhopal: 0755 4288110 -16, Indore: 0731 2547700 -06, Gorakhpur Road: 0761 2410230, 2410095, 2410243, MAHARASTRA: Ahmednagar: 0241-2451973-78, 3052223-25, Akola: 0724- 2415054 - 57, 2414651 / 4052, Amravati: 0721 2565838 / 39, Aurangabad: 0240 6455050 - 56, Jalgaon: 0257 2242410 - 13, Jalna: 02482 - 237810 / 231810 / 234810 / 239110, Kolhapur: 0231 6620290 - 2, 2668135 - 9, 6620152 / 56 / 57. Mumbai: Andheri (E): 022 33553366, Andheri (W): 022 26255440-46, Andheri Lokhandwala: 022 40068552 - 59, Borivali: 022 65220923-26, Dadar: 022 24215105- 08, Fort: 022 66224601 - 21, Ghatkopar (West): 022 25021878-80, Kanjurmarg HNI: 022 30753400, Kandivli: 022 29672873-77, Mira Road: 022 28550844-47, Mulund: 022 67343600-06, Khar: 022 33786071-75, Tardeo: 022 40047575 / 72 / 78, Nagpur: 0712 6637926 - 30, Nashik: Thatte Nagar: 0253 6610585-87, Nasik Road: 0253 2469066-68, Navimumbai - Vashi: 022 66098270-79, Pune-Pimpri: 020 27425891 - 97, Pune Satara Road: 020 24230230 / 35, Shivaji Nagar: 020 41200067 - 70, 25667712 - 15, Sangammer: 02425 228404 - 05, Sangli: 0233 2327303 / 2303, Satara: 02162 239010 / 12 / 13, Thane Naupada Thane (W): 022 66098110 -14, Kalyan: 0251 2026120 - 23, MEGHALAYA: Shillong: 0364-2500396 / 97, ORISSA: Angul: 06764 230041, Balasore: 06782 267640 / 43 / 45, Bhubaneshwar: 0674 2741912 / 13, 2742912 / 13, Cuttack: 0671 2343055 - 61, Rourkela: 0661 2500846, Sambalpur: 0663 2532540 / 440, PONDICHERRY: 0413 2207671 / 72 / 77 /78, Punjab: Amritsar: 0183 5070100, Bathinda: 0164 5001952, 2240502, Jalandhar: 0181 4685600, 4685601, Ludhiana: 0161 5069135, Mohali: 0172 5095406, Patiala: 0175-5001542 / 43 / 45, RAJASTHAN: Ajmer: 0145 5101421 - 23, Jaipur: C Scheme: 0141-5119710 / 19, Tonk Road: 0141 2744700, 5190700 - 13, Jodhpur: 0291 5150601 / 11 / 12, Kota: 0744 5100924-29, Sri Ganganagar: 0154 5130032, Udaipur: 0294 2425722-75, Sikkim: Gangtok: 0359 2201591 - 93, TAMILNADU: Chennai: Adyar: 044 49090010, Anna Salai: 044 28297951-53, Annanagar: 044 26221860, Kilpauk: 044 40501111-31, Tambaram: 044 22262511 - 13, Vadapalani: 04423651759-63, Coimbatore: 0422 2541357 / 63, Erode: 0424 2214981 - 88, Karaikudi: 04565 237026, Karur: 0432 4241970 - 72 / 76, Madurai: 0452 4506031-36, Salem: 0427 2265313-17, Tirunelveli: 0462 2574861, Tiruppur: 0421 2203444, Trichy: 0431 2742574 - 83, Tuticorin: 0461 2240030, Vellore: 0416 2240812, UTTAR PRADESH: Agra: 0562 2526888 - 89 / 93 / 96, 4063113 - 116, Allahabad: 0532 2400249 187 / 192 / 081 / 083, Bareilly: 0581 2550013 15 / 18 / 19 / 20, Ghaziabad: 0120 2820129 / 32 / 33, Kanpur: 0512 3938972 - 75, Lucknow: 0522 24131123 - 29, Gomti Nagar: 0522 4912201 - 04, Meerut: 0121 4057015, Moradabad: 05912411731 - 37, Noida: 0120 4030940 / 48, Varanasi: 0542 3056001, UTTARANCHAL: Dehradun: 0135 3054911 - 12, Haldwani: 5946220071 / 47, Haridwar: 01334 22517 / 220101, WEST BENGAL: Asansol: 0341 2275703-07, Barasat: 033 25840203-07, Durgapur: 0343 2588791, Kolkata, Chittranjan Avenue: 033 22129574 / 75, Dalhousie: 033 22134367 / 74, Gariahat: 033 24198448 / 49 / 51 / 52, New Alipore: 033 23970165, Salt Lake: 033 23373263, Shyambazar: 033 25551605 / 4077, Murshidabad: 03482 256942, Siliguri: 0353 2640073 - 79

HDFC securities Ltd.: SEBI Registration Nos.: INB011109437 (BSE - EQ) / INB231109431 (NSE - EQ) / INF231109431 (NSE - FO) / INF011109437 (BSE FO)/ INE231109431 (NSE - CD)| NSE Member Trading Code: 11094 | BSE Clearing Number: 393 AMFI Reg No. ARN - 13549, PFRDA Point of Presense Reg. No - 5412, IRDA

Corporate Agent Licence no.: HDF 2806925/HDF C000098316, CIN - U67120MH2000PLC152193 Registered Address: HDFC securities I Think Techno Campus, Building B, Alpha, Oce Floor 8, Near Kanjuarmarg Station, Kanjurmarg (East), Mumbai - 400 042. Tel - 022 30753400. Compliance Ocer: Mr. Baiju Budhwani. Ph: 022-30453600 Email: complianceocer@hdfcsec.com

The view from the rear view mirror is excellent. Nifty reported a healthy gain of 31.39% in 2014. But the view from the wind screen is foggy. The fog is partly due to inability of the Government to get the bills cleared in Rajya Sabha. And that situation is unlikely to change in the near future. So the focus of the Government is likely to shift to the Union Budget, which does not need Rajya Sabhas nod.

So what does the New Year hold for the stock market investor?Companies and sectors that will do well on their own strength will hog the limelight in 2015. We have identied from dierent sectors, which will stand tall in 2015. If the Government is able to walk its talk, they will do much better than our expectations. If the Government continues to face headwinds, they will still deliver. Play safe in 2015.

5 Top Stocks for 2015

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STATE BANK OF INDIA I BUYING RANGE: Rs. 290-311SBI has grown at a pace of 15% CAGR over the past veyears and we expect this pace to be substantially high in the next ve years.We recommend investors to buy the stock with a TARGET OF Rs. 375 in about a year's time.

POWER GRID CORPORATION OF INDIA LTD I BUYING RANGE: Rs. 125-138Power grid is relatively a low risk high reward stock.We recommend investors to buy the stock with a TARGET OF Rs. 165 in about a year's time.

LARSEN & TOUBRO I BUYING RANGE: Rs. 1450-1500The Company has made signicant investments in the past few years in expanding its facilities.We recommend investors to buy the stock with a TARGET OF Rs. 1800 in a year's time.

KPIT TECHNOLOGIES LIMITED I BUYING RANGE: Rs. 180-201The revenue of the company grew at a decent pace of 20% CAGR over the last three years and the prot grew at 36% over the same period.We recommend investors to buy the stock with a TARGET OF Rs. 250 in about a year's time.

DEWAN HOUSING FINANCE CORPORATION LIMITED I BUYING RANGE: Rs. 380-399The management targets to double its AUM by FY17 by doubling pan India presence and setting up branches in the untappedLMI (Low & Middle Income) markets. We recommend investors to buy the stock with a TARGET OF Rs. 480 in about a year's time.

To read more, visit the Research Section on www.hdfcsec.com