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Last Updated on: 22 December, 2024
Author: Getaka|Social: Getaka Financial Technology X (Earlier Twitter) Profile Getaka Financial Technology LinkedIn Logo
Stock Ticker - BSE: 500180 | NSE: HDFCBANK

HDFC Bank Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 2:59 am

Market Cap 13,54,289 Cr.
Current Price 1,772
High / Low 1,880/1,363
Stock P/E19.6
Book Value 601
Dividend Yield1.10 %
ROCE7.67 %
ROE17.1 %
Face Value 1.00
PEG Ratio2.13

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for

Competitors of

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Fino Payments Bank Ltd 2,671 Cr. 321 467/25128.6 77.30.00 %7.07 %14.4 % 10.0
Yes Bank Ltd 62,167 Cr. 19.8 32.8/19.034.7 14.60.00 %5.81 %3.11 % 2.00
Ujjivan Small Finance Bank Ltd 6,610 Cr. 34.2 61.8/32.05.68 28.74.39 %11.1 %26.7 % 10.0
South Indian Bank Ltd 6,543 Cr. 25.0 36.9/22.35.40 33.71.20 %6.19 %13.8 % 1.00
Karnataka Bank Ltd 7,883 Cr. 209 287/1925.88 2882.64 %6.24 %13.7 % 10.0
Industry Average156,525.62 Cr429.2214.76226.201.02%7.14%13.99%6.14

All Competitor Stocks of

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Revenue32,25433,52034,58835,57437,27440,93045,00247,54851,16875,03978,00879,43481,546
Interest14,21814,41514,72415,22716,35818,31120,50522,60625,95541,25043,24243,69244,580
Expenses14,07314,69814,42315,04415,02115,91516,68217,77018,47045,34950,53062,93849,690
Financing Profit3,9624,4085,4415,3045,8956,7047,8157,1726,744-11,560-15,764-27,196-12,723
Financing Margin %12%13%16%15%16%16%17%15%13%-15%-20%-34%-16%
Other Income6,6807,9168,7778,3866,9298,2529,1219,6109,85332,52837,00744,95835,450
Depreciation0000000000000
Profit before tax10,64212,32414,21813,69012,82314,95616,93616,78316,59720,96721,24317,76122,727
Tax %25%26%25%23%25%25%25%25%25%17%17%-1%24%
Net Profit7,9409,12010,61610,4759,61711,16312,73512,63412,40317,31217,71818,01317,188
EPS in Rs14.3316.4319.1118.8317.2519.9722.7722.5722.1222.1722.7323.2021.65
Gross NPA %
Net NPA %

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Revenue35,86142,55550,66663,16273,27185,288105,161122,189128,552135,936170,754283,649314,027
Interest19,69523,44527,28834,07038,04242,38153,71362,13759,24858,58477,780154,139172,763
Expenses12,63113,50816,16420,05523,85629,53234,85645,45952,45756,55763,042174,196208,507
Financing Profit3,5345,6027,2149,03711,37413,37416,59214,59316,84820,79529,932-44,685-67,244
Financing Margin %10%13%14%14%16%16%16%12%13%15%18%-16%-21%
Other Income7,1338,2989,54611,21212,90516,05718,94724,87927,33331,75933,912124,346149,943
Depreciation6636896807388869671,2211,2771,3851,6812,3453,0920
Profit before tax10,00413,21116,07919,51123,39328,46434,31838,19542,79650,87361,49876,56982,699
Tax %31%34%33%34%35%35%35%29%26%25%25%15%
Net Profit6,9038,76810,70312,82115,31718,56122,44627,29631,85738,15146,14965,44670,231
EPS in Rs14.4418.2221.3225.3229.8135.6641.0049.7057.7468.6282.4484.3389.75
Dividend Payout %19%19%19%19%18%18%18%5%11%23%23%23%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)27.02%22.07%19.79%19.47%21.18%20.93%21.61%16.71%19.76%20.96%41.81%
Change in YoY Net Profit Growth (%)0.00%-4.95%-2.28%-0.32%1.71%-0.25%0.68%-4.90%3.05%1.21%20.85%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:21%
5 Years:22%
3 Years:30%
TTM:47%
Compounded Profit Growth
10 Years:22%
5 Years:23%
3 Years:26%
TTM:27%
Stock Price CAGR
10 Years:14%
5 Years:7%
3 Years:7%
1 Year:6%
Return on Equity
10 Years:17%
5 Years:17%
3 Years:17%
Last Year:17%

Last Updated: Unknown

Balance Sheet

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital476480501506513519545548551555558760
Reserves36,16743,68762,65373,79891,281109,080153,128175,810209,259246,772288,880455,636
Borrowings335,588416,677509,762649,587741,550944,8171,080,2351,333,0411,511,4181,784,9702,139,2123,107,503
Other Liabilities35,49242,77634,18138,32159,00048,77058,89871,43078,27990,639101,783466,296
Total Liabilities407,723503,620607,097762,212892,3441,103,1861,292,8061,580,8301,799,5072,122,9342,530,4324,030,194
Fixed Assets2,7733,0263,2253,6674,0004,0084,3694,7765,2486,4328,43112,604
CWIP000000000000
Investments110,960119,571149,454193,634210,777238,461289,446389,305438,823449,264511,5821,005,682
Other Assets293,989381,023454,417564,912677,567860,717998,9911,186,7501,355,4351,667,2382,010,4193,011,909
Total Assets407,723503,620607,097762,212892,3441,103,1861,292,8061,580,8301,799,5072,122,9342,530,4324,030,194

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +-5,8474,211-21,281-34,43517,28217,214-62,872-16,86942,476-11,96020,81419,069
Cash from Investing Activity +-902-1,099-800-837-1,146-842-1,503-1,403-1,823-2,051-2,99216,600
Cash from Financing Activity +13,1059,27018,69437,815-5,89357,37823,13124,394-7,32148,12423,941-3,983
Net Cash Flow6,35612,382-3,3872,54210,24273,750-41,2446,12233,33234,11341,76231,687

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-323.00-403.00-493.00-629.00-718.00-915.0033.0044.0051.0055.0061.00171.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
ROE %21%22%20%19%18%18%17%16%16%17%17%17%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters25.83%25.80%25.78%25.73%25.64%25.60%25.59%25.52%0.00%0.00%0.00%0.00%
FIIs38.23%37.47%35.62%32.31%32.14%32.10%32.24%33.38%52.13%52.31%47.83%47.17%
DIIs22.53%22.97%24.55%27.11%27.53%28.13%28.09%26.75%30.39%30.54%33.33%35.20%
Government0.16%0.16%0.16%0.16%0.16%0.16%0.16%0.16%0.17%0.17%0.18%0.18%
Public13.25%13.60%13.89%14.69%14.51%13.99%13.91%14.19%17.30%16.98%18.64%17.44%
No. of Shareholders15,98,81318,88,27621,51,63026,60,57725,20,91123,03,29122,90,09223,45,67230,58,65930,18,24741,21,81536,64,325

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Nifty 50 ETF139,105,1821122770.13139,105,1822024-12-200%
SBI BSE Sensex ETF99,500,80512.9916247.98139,105,1822024-12-20-28.47%
UTI Nifty 50 ETF40,346,061116604.25139,105,1822024-12-20-71%
Parag Parikh Flexi Cap Fund38,252,7547.986261.59139,105,1822024-12-20-72.5%
UTI BSE Sensex ETF36,797,67812.996008.88139,105,1822024-12-20-73.55%
HDFC Flexi Cap Fund - Regular Plan35,500,0009.325735.91139,105,1822024-12-20-74.48%
HDFC Balanced Advantage Fund - Regular Plan33,564,7515.775423.22139,105,1822024-12-20-75.87%
ICICI Prudential Value Discovery Fund28,860,1219.424724.11139,105,1822024-12-20-79.25%
SBI Blue Chip Fund24,450,0007.754002.22139,105,1822024-12-20-82.42%
Mirae Asset Large Cap Fund22,909,9669.023750.13139,105,1822024-12-20-83.53%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
Face Value1.001.001.001.001.00
Basic EPS (Rs.)90.4282.6468.7757.8849.84
Diluted EPS (Rs.)90.0182.2768.3157.6149.46
Cash EPS (Rs.)90.2286.9171.8360.3052.11
Book Value[Excl.RevalReserv]/Share (Rs.)600.77518.73445.99380.59321.63
Book Value[Incl.RevalReserv]/Share (Rs.)600.77518.73445.99380.59321.63
Operating Revenue / Share (Rs.)373.37306.03245.13233.19222.84
Net Profit / Share (Rs.)86.1582.7168.8057.7949.78
Net Profit After MI / Share (Rs.)84.3382.4468.6257.7449.70
Net Profit Margin (%)23.0727.0228.0624.7822.33
Net Profit After MI And SOA Nargin (%)22.5826.9327.9924.7622.30
Operating Profit Margin (%)-20.767.164.703.511.97
Return On Assets (%)1.581.811.791.761.72
Return On Equity / Networth (%)14.0315.8915.3815.1715.45
Net Interest Margin (X)3.213.673.643.853.79
Cost To Income (%)59.9840.6136.9436.2138.89
Interest Income / Total Assets (%)7.036.746.407.147.72
Non-Interest Income / Total Assets (%)3.081.341.491.511.57
Operating Profit / Total Assets (%)-1.460.480.300.250.15
Operating Expenses / Total Assets (%)3.772.031.891.942.08
Interest Expenses / Total Assets (%)3.823.072.753.293.93
Enterprise Value (Rs.Cr.)4028967.132920214.842470099.592237407.931733489.71
EV Per Net Sales (X)14.2017.1018.1717.4014.19
Price To Book Value (X)2.413.103.303.922.68
Price To Sales (X)3.885.266.006.403.87
Retention Ratios (%)86.88100.00100.00100.0093.95
Earnings Yield (X)0.050.050.040.030.05

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 2,036.47

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 22, 2024, is Undervalued by 14.92% compared to the current share price 1,772.00

Intrinsic Value of as of December 22, 2024 is: 2,224.28

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 22, 2024, is Undervalued by 25.52% compared to the current share price 1,772.00

Last 5 Year EPS CAGR: 9.22%

*Investments are subject to market risks

Strength and Weakness

Unable to fetch valid data for stock valuation.
  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
    1. Net Profit Margin: 23.07%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 0% (Industry Average ROCE: 7.14%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 0% (Industry Average ROE: 13.99%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 0
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 19.6 (Industry average Stock P/E: 14.76)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

HDFC Bank Ltd. is a Public Limited Listed company incorporated on 30/08/1994 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L65920MH1994PLC080618 and registration number is 080618. Currently Company is involved in the business activities of Monetary intermediation of commercial banks, saving banks. postal savings bank and discount houses. Company’s Total Operating Revenue is Rs. 127753.12 Cr. and Equity Capital is Rs. 554.55 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Finance - Banks - Private SectorHDFC Bank House, Mumbai Maharashtra 400013shareholder.grievances@hdfcbank.com
http://www.hdfcbank.com
Management
NamePosition Held
Mr. Atanu ChakrabortyPart Time Chairman & Independent Director
Mr. Sashidhar JagdishanManaging Director & CEO
Mr. Kaizad BharuchaDeputy Managing Director
Mr. Keki MistryNon Exe.Non Ind.Director
Mrs. Renu KarnadNon Exe.Non Ind.Director
Mr. M D RanganathIndependent Director
Mr. V Srinivasa RanganExecutive Director
Mr. Sandeep ParekhIndependent Director
Dr.(Mrs.) Sunita MaheshwariIndependent Director
Mrs. Lily VaderaIndependent Director
Mr. Bhavesh ZaveriExecutive Director
Dr. Harsh Kumar BhanwalaIndependent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 22 December 2024 is ₹2036.47, which is 14.92% higher than the current market price of ₹1,772.00. The stock has a market capitalization of 13,54,289 Cr. and recorded a high/low of 1,880/1,363 during the current fiscal year 2024-2025. As of Mar 2024, the company has reserves of ₹455,636 Cr and total liabilities of ₹4,030,194 Cr.

What is the Market Cap of ?

The Market Cap of is 13,54,289 Cr..

What is the current Stock Price of as on 22 December 2024?

The current stock price of as on 22 December 2024 is 1,772.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 1,880/1,363.

What is the Stock P/E of ?

The Stock P/E of is 19.6.

What is the Book Value of ?

The Book Value of is 601.

What is the Dividend Yield of ?

The Dividend Yield of is 1.10 %.

What is the ROCE of ?

The ROCE of is 7.67 %.

What is the ROE of ?

The ROE of is 17.1 %.

What is the Face Value of ?

The Face Value of is 1.00.

HDFC Bank Ltd: A Comprehensive Overview

HDFC Bank Ltd, one of India’s largest private sector banks, continues to be a dominant force in the Indian banking sector. With its robust presence across both retail banking and wholesale banking, the bank maintains its leadership through innovation, customer-centric solutions, and a strong digital infrastructure. Here’s a detailed look at the bank’s financial performance and strategic strengths in 2024.

1. Retail Banking: A Major Growth Driver

Retail banking is the backbone of HDFC Bank, contributing around 47% of its total revenues as of the first quarter of the financial year 2024. The bank has consistently grown its retail loan book, offering a wide range of financial products, including personal loans, home loans, credit cards, and auto loans. The recent merger with HDFC Ltd has further strengthened its retail banking capabilities by bringing in a massive portfolio of home loans, enhancing cross-selling opportunities.

The bank’s digital-first approach is critical in reaching its large customer base, which spans across urban and rural India. Its robust mobile banking and internet banking platforms contribute to improved customer service, offering seamless banking experiences to millions of customers.

2. Wholesale Banking: A Balanced Portfolio

HDFC Bank’s wholesale banking segment, which caters to large corporate clients, accounts for approximately 29% of its revenues. This includes services like working capital financing, trade services, and infrastructure financing. Additionally, HDFC Bank is a major player in the foreign exchange and derivatives market, providing hedging solutions and currency risk management services to corporate clients.

The merger with HDFC Ltd has also enhanced the bank’s wholesale operations by consolidating its corporate loan book and increasing its exposure to infrastructure and housing finance. With the Indian economy on a growth trajectory, the demand for corporate loans is expected to rise, positioning HDFC Bank favorably.

3. Market Share and Competitive Position

As of 2024, HDFC Bank holds a significant market share in the Indian banking sector. It is not only one of the largest banks by assets but also one of the most profitable. With a market capitalization exceeding ₹14 lakh crore (around $145 billion), the bank remains the third-largest listed entity in India.

The merger with HDFC Ltd has further solidified its leadership, making it a financial conglomerate with a wide array of products, from banking services to insurance and asset management through subsidiaries like HDFC Life, HDFC ERGO, and HDFC AMC. This diversified portfolio gives HDFC Bank a unique edge over competitors such as ICICI Bank and Axis Bank ​(Screener)​ (MarketScreener).

4. Financial Performance: Strong Fundamentals

In the latest financial year 2023-24, HDFC Bank posted a consolidated profit after tax (PAT) of ₹164.7 billion for the first quarter, reflecting a 33.2% year-on-year increase. The net interest income (NII) for Q1 FY25 stood at ₹724.2 billion, marking a 106.5% growth ​(Smart Investing)​, (ICICI Direct). The bank’s return on equity (ROE) remains steady at around 17%, showcasing its operational efficiency and profitability.

Despite challenging market conditions such as rising interest rates and inflation, HDFC Bank has managed to maintain asset quality. Its gross non-performing assets (NPA) ratio stands at a manageable 1.24%, one of the lowest in the sector​ (ICICI Direct).

5. Digital and Customer-Centric Banking

HDFC Bank has significantly invested in digital services, enhancing customer experience through mobile banking, internet banking, and digital payments. The bank’s technology-driven approach ensures 24/7 connectivity, improving overall customer service. Additionally, its digital onboarding and credit assessment tools allow the bank to reach underserved markets in semi-urban and rural areas, where it continues to expand its branch network​ (MarketScreener).

6. Challenges and Opportunities Ahead

With rising interest rates globally, the bank faces higher borrowing costs, which may pressure its margins. However, its strong focus on retail and digital banking, combined with its large-scale operations in financial services, positions it well to capitalize on India’s economic growth. The increasing demand for housing loans and the bank’s leadership in this space post-merger is expected to drive growth in the coming years.

Conclusion

HDFC Bank Ltd stands out as a powerhouse in the Indian banking industry with a diverse portfolio spanning retail banking, wholesale banking, foreign exchange, and derivatives. The bank’s strategic merger with HDFC Ltd has significantly enhanced its market position, and its focus on digitalization ensures it remains competitive. With strong financial fundamentals, an expansive customer base, and a focus on innovation, HDFC Bank is well-positioned to continue its leadership in the private sector banking space​ (Smart Investing) ​(MarketScreener)​ (ICICI Direct).

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in . Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE