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Credit offtake grows as HDFC merger boosts retail; NBFCs reduce MoM By Care Edge Rating Synopsis * Gross bank credit offtake witnessed an accelerated rise of 19.7% year-on-year (y-o-y) in July 2023. The growth was driven by services and personal loans. However, the reported July 2023 data includes the impact of the merger of HDFC with HDFC Bank and, hence is not directly comparable. Adjusted for the merger, the non-food credit systemic growth stands at 14.8% y-o-y and -1.4% m-o-m. * Personal loans reported a sustained growth at 31.7% y-o-y in July 2023 compared to 18.7% a ...
Credit offtake grows as HDFC merger boosts retail; NBFCs reduce MoM By Care Edge Rating
Credit offtake grows as HDFC merger boosts retail; NBFCs reduce MoM By Care Edge Rating
Source: CareEdge Ratings
7/09/2023 5:21:51 PM
Stock of the day : Buy HDFC Bank Ltd For Target Rs.45 - Religare Broking Ltd HDFC Bank Ltd * HDFC Bank has been declining consistently, after the failed attempt to surpass the resistance zone of 1750 mark. * It has recently breached the support zone of its long term moving average i.e 200 DEMA at 1600 levels and inching lower. * The stock has been trading below all its key moving averages suggests weakness in price trend. * We thus recommend creating short positions through the Put option. Buy HDFC Bank Ltd CMP 25.50; Range 24-26; SL 15; Target...
Stock of the day : Buy HDFC Bank Ltd For Target Rs.45 - Religare Broking Ltd
Stock of the day : Buy HDFC Bank Ltd For Target Rs.45 - Religare Broking Ltd
Source: Religare Broking Ltd
25/08/2023 10:20:41 AM
Indian banks set to reward shareholders with the highest dividend in seven years Indian banks look set to reward shareholders with the highest dividend in at least seven years. The country's banks are forecast to take their share in aggregate payout across all sectors to 13% for the year ending March 31, 2024, according to S&P Global Market Intelligence. This is up from 12 per cent for the fiscal year ended March 31, 2023, and 9 per cent in the year ended March 31, 2022. This is a sharp rebound from just 1 per cent in 2020, when the Reserve Bank of India ask...
Indian banks set to reward shareholders with the highest dividend in seven years
Indian banks set to reward shareholders with the highest dividend in seven years
Source: IANS
24/08/2023 2:34:45 PM
HDFC International Life & Re, IFSC Branch & HDFC AMC International (IFSC) announce new global propositions from GIFT City - IFSC Two of the HDFC Bank group companies are set to commence operations from GIFT City – IFSC. HDFC International Life and Re, IFSC Branch HDFC Life, one of India’s leading insurers has announced that the overseas branch of its international subsidiary HDFC International Life and Re, will now offer US Dollar denominated life and health insurance solutions for Non-Resident Indians (NRIs) from GIFT City – IFSC, India under the brand name HDFC Life International. HDFC...
HDFC International Life & Re, IFSC Branch & HDFC AMC International (IFSC) announce new global propositions from GIFT City - IFSC
HDFC International Life & Re, IFSC Branch & HDFC AMC International (IFSC) announce new global propositions from GIFT City - IFSC
Source: PR Agency
17/08/2023 5:12:05 PM
PSU bank stocks best performers in trade while private sector banks down after RBI raises CRR provision Public sector banks are up in trade but private sector banks are down following RBI's decision to hike CRR provision to curb liquidity. Among private sector banks, Indusind Bank is top loser in Sensex, down 1.5 per cent. ICICI Bank, Axis Bank and HDFC Bank are also trading down. On the other hand, PSU banks are flying. Indian Overseas Bank is up more than 11 per cent, Central Bank of India is up more than 7 per cent, UCO Bank is up more than 5 per cent, Punjab and Sind Bank is up 4....
PSU bank stocks best performers in trade while private sector banks down after RBI raises CRR provision
PSU bank stocks best performers in trade while private sector banks down after RBI raises CRR provision
Source: IANS
11/08/2023 2:09:29 PM
Nifty closed higher for 5th straight month in July The index oscillated 757 points before closing at 565 points (or 2.9 per cent) higher month on month at 19,754. The Nifty is up 9.1 per cent in the calendar year to date, a report by Motilal Oswal Financial Services said. Midcaps/Smallcaps outperformed largecaps by 2.6 per cent/5.1 per cent in July'23. Similarly, in CY23YTD, midcaps/smallcaps have outperform largecaps and both have risen 20 per cent vs. a 9 per cent rise for the Nifty. FIIs recorded inflows for the fifth consecutive...
Nifty closed higher for 5th straight month in July
Nifty closed higher for 5th straight month in July
Source: IANS
7/08/2023 2:11:30 PM
Buy HDFC Bank Ltd For Target Rs. 2,070 - Motilal Oswal Financial Services Ltd * HDFC Bank (HDFCB) has delivered an exemplary track record over the past two decades that only a few companies in the world can take pride in (27% earnings CAGR in past 20 years). The merged entity is set to extend its lead as the secondlargest bank in the country, with a market share of 16% in loans and 11% in deposits. * The merger will help the bank improve asset duration and enable sustainable growth over the long term, with mortgage mix rising to 33%. We estimate the loan book to gro...
Buy HDFC Bank Ltd For Target Rs. 2,070 - Motilal Oswal Financial Services Ltd
Buy HDFC Bank Ltd For Target Rs. 2,070 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
1/08/2023 10:24:46 AM
FPIs sold stocks for Rs 3,979 cr in cash market The headwinds for the markets come from the US 10-year yield rising sharply to 4 per cent, the dollar index rising to 101.7, Brent crude rising above $83 and FPIs selling stocks for Rs 3,979 crore in the cash market, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. The market is delicately poised with strong headwinds and some tailwinds, he said. While these strong headwinds can impact the market, support can come from the strong US 2nd quarter GDP number...
FPIs sold stocks for Rs 3,979 cr in cash market
FPIs sold stocks for Rs 3,979 cr in cash market
Source: IANS
28/07/2023 11:36:16 AM
India's private lenders grab brisk business at the cost of soaring attrition India's private lenders are contending with soaring attrition amid strong demand for loans and the rush to capture a larger share of the crowded market. Credit demand grew 15% last financial year and is seen expanding 10-12% this year, driven by retail loans. This growth is mounting pressure on the frontline staff and a jump in employee turnover raising risks of mis-selling and service disruption. HDFC Bank, India's largest private lender, saw its employee turnover rate over the...
India's private lenders grab brisk business at the cost of soaring attrition
India's private lenders grab brisk business at the cost of soaring attrition
Source: Reuters
27/07/2023 12:40:08 PM
Swiggy launches credit card with HDFC Bank Online food-delivery platform Swiggy and private sector HDFC Bank on Wednesday announced the launch of the Swiggy HDFC Bank co-branded credit card. The co-branded credit card, the first ever from Swiggy, will be hosted on Mastercard’s payment network. The credit card will provide cardholders rewards and benefits across various online platforms, including Swiggy, according to the company. “We recognise that modern-day consumers actively seek rewards, offers, and cashback p...
Swiggy launches credit card with HDFC Bank
Swiggy launches credit card with HDFC Bank
Source: IANS
26/07/2023 3:50:51 PM
Personal loan demand drove credit growth in Q4FY23 Driven by personal loan demand, the credit offtake from banks rose by 16.3 per cent year-on-year (y-o-y) while the deposits grew slower at 10.2 per cent during the last quarter of FY23, Credit Rating agency CARE Ratings said in a report. According to the credit rating agency, the growth of credit over deposit can be attributed to the base effect as earlier in the pandemic, deposit growth had outpaced credit. The personal loans segment has remained the largest segment, along with non-ban...
Personal loan demand drove credit growth in Q4FY23
Personal loan demand drove credit growth in Q4FY23
Source: IANS
19/07/2023 4:00:26 PM
IndusInd Bank posts Rs 2,123 crore net for Q1   Higher income and lower provisions enabled IndusInd Bank Ltd to close the first quarter of FY24 with a net profit of Rs 2,123.62 crore. However, the bank’s gross and net non-performing assets (NPA) numbers saw an increase during the period under review as compared to the previous year's corresponding period. In a regulatory filing, the private bank said it closed Q1FY24 with a net profit of Rs 2,123.62 crore and a total income of Rs 12,939.42 crore up from Rs 1,603.2...
IndusInd Bank posts Rs 2,123 crore net for Q1
IndusInd Bank posts Rs 2,123 crore net for Q1
Source: IANS
18/07/2023 5:50:05 PM
Buy HDFC Bank Ltd For Target Rs.1,900 - JM Financial Institutional Securities HDFC Bank reported an operationally in-line quarter with core PPOP at INR 182.2bn (+11% YoY, -2% QoQ) on the back of a) stable reported NIMs at 4.1%, despite cost side pressures, b) sustained fee income momentum (+16% YoY) and c) elevated opex levels (cost-to-income at 42.8%). PAT, however, grew +30% YoY to INR 120bn led by continued low credit costs. Pro-forma merged loan and deposit growth was a tad soft at +1% QoQ/+13% YoY and +1.4% QoQ/+16% YoY resp., though management continues to remain...
Buy HDFC Bank Ltd For Target Rs.1,900 - JM Financial Institutional Securities
Buy HDFC Bank Ltd For Target Rs.1,900 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities
18/07/2023 2:53:34 PM
Sensex moving towards 67K milestone BSE Sensex is moving towards another milestone of 67,000 points mark. On Tuesday, Sensex was up 360 points at 66,960 points. Among the Sensex stocks, Infosys, ICICI Bank, Reliance are up by more than 1 per cent. On the other hand, Titan and Tata Motors are down by more than 1 per cent. Since the market has run up too much, too fast, a correction can happen at any time, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Some profit booking at the prese...
Sensex moving towards 67K milestone
Sensex moving towards 67K milestone
Source: IANS
18/07/2023 12:42:24 PM
Add HDFC Bank Ltd For Target Rs.1,950 - Yes Securities Ltd Result Highlights * Asset quality: Annualized gross slippage ratio for 1QFY24 was 1.4% (Rs 58bn), with recoveries and upgrades amounting to Rs 26.5bn * Margin picture: NIM at 4.1% was flat QoQ with several moving parts largely canceling each other out, for the quarter * Asset growth: Advances grew 1.0%/15.7% QoQ/YoY, sequentially driven by Retail and Commercial and Rural Banking segment * Opex control: Total opex rose 4.4%/33.9% QoQ/YoY, employee exp. grew 10.4%/36.6% QoQ/YoY and other ...
Add HDFC Bank Ltd For Target Rs.1,950 - Yes Securities Ltd
Add HDFC Bank Ltd For Target Rs.1,950 - Yes Securities Ltd
Source: Yes Securities Ltd
18/07/2023 12:41:55 PM
Buy HDFC Bank Ltd For Target Rs.2,070 - Motilal Oswal Financial Services Ltd * HDFCB reported a steady quarter with 30% YoY growth in PAT (8% beat). This was supported by lower provisions and higher ‘other income’. NII grew 21% YoY, while PPoP grew 22% YoY to INR187.7b (in line). * Loan growth was driven by strong traction in Commercial and Rural Banking and a sequential pick-up in retail. Deposits registered a modest growth of 1.6% QoQ. * Asset quality ratios remained broadly stable as slippages increased to INR58b. The restructured book declined to...
Buy HDFC Bank Ltd For Target Rs.2,070 - Motilal Oswal Financial Services Ltd
Buy HDFC Bank Ltd For Target Rs.2,070 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
18/07/2023 12:30:29 PM
India's HDFC Bank posts bigger-than-expected jump in Q1 profit HDFC Bank, India's largest private lender, on Monday reported a bigger-than-expected 30% jump in first-quarter profit, helped by higher net interest income (NII) and strong loan growth. The lender's standalone net profit was at 119.52 billion rupees ($1.46 billion), up from 91.96 billion rupees a year ago. Analysts had expected a profit of 114.97 billion rupees, as per Refinitiv data. The standalone numbers do not include the business of the bank's subsidiaries. The resul...
India's HDFC Bank posts bigger-than-expected jump in Q1 profit
India's HDFC Bank posts bigger-than-expected jump in Q1 profit
Source: Reuters
17/07/2023 7:15:25 PM
India`s HDFC Bank posts bigger-than-expected jump in Q1 profit HDFC Bank, India's largest private lender, on Monday reported a bigger-than-expected 30% jump in first-quarter profit, helped by higher net interest income (NII) and strong loan growth. The lender's standalone net profit was at 119.52 billion rupees ($1.46 billion), up from 91.96 billion rupees a year ago. Analysts had expected a profit of 114.97 billion rupees, as per Refinitiv data. The standalone numbers do not include the business of the bank's subsidiaries. The resul...
India`s HDFC Bank posts bigger-than-expected jump in Q1 profit
India`s HDFC Bank posts bigger-than-expected jump in Q1 profit
Source: Reuters
17/07/2023 2:56:52 PM
Sensex closes above 66K, Nifty touches new high intraday A sharp rally in IT stocks powered the Sensex to close above the 66,000-mark for the first time ever on Friday. IT heavyweights led the rally as the BSE Sensex closed at 66,060, up 502 points. Among IT heavyweights, TCS was up 5.1 per cent, Tech Mahindra was up 4.4 per cent, while Infosys was up 4.4 per cent. HCL Tech was up 3.8 per cent, while Wipro was up 2.6 per cent. Vinod Nair, Head of Research at Geojit Financial Services, said that controlled inflation in the US has instill...
Sensex closes above 66K, Nifty touches new high intraday
Sensex closes above 66K, Nifty touches new high intraday
Source: IANS
14/07/2023 5:04:59 PM
HDFC Bank signs up over 100,000 customers in digital rupee pilots India's largest private lender HDFC Bank on Thursday said it has signed up over 100,000 customers and 170,000 merchants in pilot programmes using the central bank digital currency (CBDC). The lender also linked the CBDC, termed e-rupee, and United Payments Interface (UPI) for merchants and customers, which would enable payments through both CBDC and UPI using a single Quick Response (QR) code, HDFC Bank said in a statement. The Reserve Bank of India (RBI) has devised the e-rupee as ...
HDFC Bank signs up over 100,000 customers in digital rupee pilots
HDFC Bank signs up over 100,000 customers in digital rupee pilots
Source: Reuters
13/07/2023 2:39:32 PM
TruCap Finance Ltd. disburses loans worth ~INR 2.61 billion in Q1FY24, takes the total branch count to 103 As a leading non-banking finance company (NBFC) focused on micro, small, and medium enterprises (MSMEs), TruCap has disbursed ~INR 2.61 billion in the quarter ended June’23 vs. ~INR 2.37 billion in Mar’23 and ~INR 1.64 billion in Jun’22 translating to an AUM in excess of INR ~6.5 billion with over 65,000+ active borrowers. Cumulatively, the company has disbursed INR ~20.8 billion to more than 1,90,000 borrowers over the last five years. A strategic roadmap the company ado...
TruCap Finance Ltd. disburses loans worth ~INR 2.61 billion in Q1FY24, takes the total branch count to 103
TruCap Finance Ltd. disburses loans worth ~INR 2.61 billion in Q1FY24, takes the total branch count to 103
Source: PR Agency
12/07/2023 12:55:21 PM
NSDL files DRHP with SEBI for IPO National Securities Depository (NSDL) has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).  The IPO is a complete offer-for-sale (OFS) of more than 5.72 crore equity shares by existing shareholders. Under the OFS, IDBI Bank plans to offload 2.22 crore shares, National Stock Exchange (NSE) 1.80 crore shares, Union Bank of India 56.25 lakh shares, State Bank of India...
NSDL files DRHP with SEBI for IPO
NSDL files DRHP with SEBI for IPO
Source: Accord Fintech
11/07/2023 3:59:12 PM
HDFC Bank to sell 2% stake in NSDL IPO HDFC Bank will sell a 2% stake in the initial public offering (IPO) of National Securities Depository (NSDL), the lender informed exchanges on Sunday. The lender holds a 8.95% stake in NSDL, which handles most of the securities held and settled in dematerialised form in the Indian capital market. In its draft red herring prospectus (DRHP) dated July 7, the depository said the IPO will see sales of 57.3 million shares by its six shareholders. IDBI Bank will sell up to 22.2 million sha...
HDFC Bank to sell 2% stake in NSDL IPO
HDFC Bank to sell 2% stake in NSDL IPO
Source: Reuters
9/07/2023 10:44:42 AM
India's HDFC Bank to replace HDFC Ltd on MSCI indexes India's biggest private lender HDFC Bank will replace Housing Development Finance Corp (HDFC) Ltd on MSCI Global Standard indexes from July 13, following the merger of two companies, an MSCI notice showed on Friday. HDFC and HDFC Bank completed their $40 billion merger, the largest in India's corporate history on July 1 and have set July 13 as the "record date" for shareholders to swap HDFC's shares with those of HDFC Bank. Reuters had reported in June that after t...
India's HDFC Bank to replace HDFC Ltd on MSCI indexes
India's HDFC Bank to replace HDFC Ltd on MSCI indexes
Source: Reuters
7/07/2023 8:00:01 PM
Securitisation volumes estimated at Rs 53,000 crore in Q1 FY24: ICRA Rating agency ICRA in its latest report has said that securitisation volumes, originated primarily by non-banking financial companies (NBFCs) and housing finance companies (HFCs), are estimated at Rs 53,000 crore in Q1 FY24, reflecting a strong growth of 60% over the Rs 33,000 crore securitised in Q1 FY23.  The report stated that the securitisation volumes, combining both direct assignments and pass-through certificates, have been witnessing a healthy recovery after the impact of the ...
Securitisation volumes estimated at Rs 53,000 crore in Q1 FY24: ICRA
Securitisation volumes estimated at Rs 53,000 crore in Q1 FY24: ICRA
Source: Accord Fintech
7/07/2023 11:23:44 AM
India's growth weakened in June Limited available data suggests that India's growth weakened in June'23, Motilal Oswal Financial Services said in a report. Manufacturing PMI fell to 57.8 in June'23 from 58.7 in May'23, but it still remained in expansionary territory, the report said. Additionally, a contraction in CV sales, weak freight traffic growth, deceleration in toll collections and PV sales growth, and falling water reservoir levels would have adversely impacted economic activity in June'23,...
India's growth weakened in June
India's growth weakened in June
Source: IANS
6/07/2023 2:18:56 PM
New retail investors jumping on to market bandwagon normally happens at the peak of rally An important trend in the market is the surge in retail investor participation as indicated by the sharp increase in new demat accounts at 2.36 million opened in June, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. New retail investors jumping on to the market bandwagon normally happens at the peak of a rally. This is a sign for caution, he said. The FPI liquidity driven rally is showing signs of losing steam. Some of the leading indicators like credit ...
New retail investors jumping on to market bandwagon normally happens at the peak of rally
New retail investors jumping on to market bandwagon normally happens at the peak of rally
Source: IANS
6/07/2023 11:47:41 AM
HDFC Bank says merged loan book with HDFC at $273.8 billion as of June end India's HDFC Bank on Wednesday said its merged loan book with Housing Development Finance Corporation stood at about 22.45 trillion rupees ($273.77 billion) as at the end of the June quarter. HDFC Bank merged with HDFC on July 1 in a $40 billion merger, the largest in India's corporate history, entering the coveted list of the world's top 10 banks by market capitalisation. HDFC Bank said its loan book rose 13.1% in the June quarter from a year ago on a proforma basis, though...
HDFC Bank says merged loan book with HDFC at $273.8 billion as of June end
HDFC Bank says merged loan book with HDFC at $273.8 billion as of June end
Source: Reuters
5/07/2023 9:14:15 AM
`Valuation gap between ICICI Bank and HDFC Bank may not widen in short run` The valuation gap between the two major private sector banks – HDFC Bank (post merger of HDFC Ltd) and the ICICI Bank Ltd - may not widen in the short run, said an analyst with LKP Securities. “Post merger of HDFC and HDFC Bank, we believe, the valuation re-rerating will be delayed factoring margin squeeze,” Ajit Kabi, Banking Analyst at LKP Securities said. "The impact on the return profile will be keenly watched in the coming period. Hence, in the short run, we ...
`Valuation gap between ICICI Bank and HDFC Bank may not widen in short run`
`Valuation gap between ICICI Bank and HDFC Bank may not widen in short run`
Source: IANS
4/07/2023 10:28:11 AM
Quote on Valuation Gap between ICICI Bank & HDFC Bank post the HDFC merger from Ajit Kabi,LKP Securities Below the Quote on Valuation Gap between ICICI Bank & HDFC Bank post the HDFC merger from Ajit Kabi, Banking analyst at LKP Securities. Both the large Pvt. Sector banks have performed significantly well since 2-3 years. Nevertheless, ICICI Bank has outperformed the sector with improvement in credit quality and growth across verticals.The valuation gap between these two banks have narrowed down. Post merger of HDFC and HDFC Bank, we believe, the valuation re-rerating will be delaye...
Quote on Valuation Gap between ICICI Bank & HDFC Bank post the HDFC merger from Ajit Kabi,LKP Securities
Quote on Valuation Gap between ICICI Bank & HDFC Bank post the HDFC merger from Ajit Kabi,LKP Securities
Source: LKP Securities Ltd
3/07/2023 4:38:20 PM
HDFC Ltd to merge into HDFC Bank to create financial behemoth   In an expected development, HDFC Bank, India’s leading private sector bank, on Friday announced the successful completion of the merger of HDFC Ltd, India’s premier housing finance company, with and into HDFC Bank, following the receipt of all requisite shareholder and regulatory approvals. HDFC Bank and HDFC Ltd had announced a decision to merge on April 4, 2022, subject to obtaining the requisite consent and approvals and had ...
HDFC Ltd to merge into HDFC Bank to create financial behemoth
HDFC Ltd to merge into HDFC Bank to create financial behemoth
Source: IANS
1/07/2023 9:07:00 AM
In FY24, Credit Offteke to Continue Rising and Outpacing Deposite Growth : CareEdge Synopsis Bank credit growth maintained a double-digit growth and continued to outpace deposit growth in FY23. The personal loans segment has remained the largest segment, along with NBFCs, while the industrial sector reported muted growth. The private sector banks (PVBs) have continued to outpace the public sector banks (PSBs). The medium-term prospects look promising with rising personal loans along with NBFC borrowings and a substantial buffer for provisions. Additionally, given that in ...
In FY24, Credit Offteke to Continue Rising and Outpacing Deposite Growth : CareEdge
In FY24, Credit Offteke to Continue Rising and Outpacing Deposite Growth : CareEdge
Source: PR Agency
29/06/2023 3:56:11 PM
Indian insurers await classification of HDFC bonds post-merger; assess impact on holdings Indian insurers are awaiting clarity on how Housing Development Finance Corp's bonds will be categorised after the lender is folded into HDFC Bank, as they assess the impact of the merger on their debt portfolios. There is uncertainty whether HDFC's bonds will be classified under housing and infrastructure after the merger, and we are awaiting clarification from regulators, Arun Srinivasan, head of fixed income at ICICI Prudential Life Insurance, told Reuters. "In case it d...
Indian insurers await classification of HDFC bonds post-merger; assess impact on holdings
Indian insurers await classification of HDFC bonds post-merger; assess impact on holdings
Source: Reuters
28/06/2023 4:48:34 PM
S&P raises assessment of Indian banking sector on  S&P Global Ratings on Tuesday raised its assessment of India's banking sector, citing a "strong recovery" underway in the Indian financial sector. India's 'Banking Industry Country Risk Assessment', an indicator of an economy's financial sector, has been raised one notch to 5 from 6 earlier, the rating agency said in a note. Risk scores range from 1 to 10, with 10 signalling the highest risk. "We believe asset quality will continue to stre...
S&P raises assessment of Indian banking sector on
S&P raises assessment of Indian banking sector on "strong recovery"
Source: Reuters
27/06/2023 9:00:01 AM
View on HDFC Bank outlook : MFs having to offload HDFC Bank shares worth Rs 5,000 cr after the merging HDFC with itself, to meet 10% exposure cap of Sebi Dr. V K Vijayakumar, Geojit Financial Services Below the view on HDFC Bank outlook Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services   HDFC Bank share has been weak even in this resilient market due to selling by mutual funds which will have above 10% stake in the merged entity. This weakness will continue since around 60 mutual fund schemes have holdings above the 10%  limit  and they will have to reduce their holding. This weakness in the stock, however, is an opportunity for r...
View on HDFC Bank outlook : MFs having to offload HDFC Bank shares worth Rs 5,000 cr after the merging HDFC with itself, to meet 10% exposure cap of Sebi Dr. V K Vijayakumar, Geojit Financial Services
View on HDFC Bank outlook : MFs having to offload HDFC Bank shares worth Rs 5,000 cr after the merging HDFC with itself, to meet 10% exposure cap of Sebi Dr. V K Vijayakumar, Geojit Financial Services
Source: Geojit Financial Services Ltd
16/06/2023 10:32:17 AM
Reliance Industries tops India Inc in Forbes Global 2000 list for 2023 Reliance Industries Limited, the country's largest corporate by revenues, profits and market value, continued to top Indian corporates in the 2023 edition of The Global 2000 published by Forbes. Reliance Industries was placed at number 45 in the overall ranking of 2000 global corporates ahead of well-known names like Germany's BMW Group, Switzerland's Nestle, China's Alibaba Group, the US's Procter & Gamble and Japan's Sony. Reliance Industries improved its r...
Reliance Industries tops India Inc in Forbes Global 2000 list for 2023
Reliance Industries tops India Inc in Forbes Global 2000 list for 2023
Source: IANS
13/06/2023 3:11:26 PM
India's retail inflation eases to 4.25% in May (June 12) India's annual retail inflation cooled to a more than two-year low of 4.25% in May as cost pressures on food eased, government data showed on Monday. A Reuters poll of 45 economists had predicted the consumer price index would rise 4.42% in May from a year earlier. COMMENTARY: MADAN SABNAVIS, CHIEF ECONOMIST, BANK OF BARODA, MUMBAI "Rural and urban inflation (were) almost the same which is quite unusual. States had a differential picture. Inflation in Bihar, Jharkhand, Ke...
India's retail inflation eases to 4.25% in May (June 12)
India's retail inflation eases to 4.25% in May (June 12)
Source: Reuters
13/06/2023 2:16:48 PM
India's HDFC Bank to keep home loans as focus of growth strategy post merger India's HDFC Bank Ltd will keep home loans at the centre of its growth strategy after a merger with HDFC Ltd is concluded, with such credit likely to make up nearly a third of the bank's portfolio going forward, two senior officials at the group said. The pace of growth in home loans will broadly mirror growth seen in HDFC's home loan portfolio, the first official said, declining to be identified as strategy discussions are not public. Individual home loans have grown at a c...
India's HDFC Bank to keep home loans as focus of growth strategy post merger
India's HDFC Bank to keep home loans as focus of growth strategy post merger
Source: Reuters
9/06/2023 11:21:07 AM
India's Yes Bank aims to expand margins by 100 bps in next 3 years - MD  India's Yes Bank sees scope to expand its net interest margin by 100 basis points over the next three years by raising more low-cost deposits and lending to higher-yield clients, its managing director and CEO told Reuters on Wednesday. The push to improve net interest margins (NIM), together with lower loan-loss provisions, is part of an effort to boost profitability at the lender, which was rescued by a consortium of state-owned entities and private banks in 2020 after a dramati...
India's Yes Bank aims to expand margins by 100 bps in next 3 years - MD
India's Yes Bank aims to expand margins by 100 bps in next 3 years - MD
Source: Reuters
7/06/2023 5:35:54 PM
HDFC Bank inches up on signing MoU with SIDBI HDFC Bank is currently trading at Rs. 1601.00, up by 0.70 points or 0.04% from its previous closing of Rs. 1600.30 on the BSE. The scrip opened at Rs. 1601.30 and has touched a high and low of Rs. 1606.55 and Rs. 1599.50 respectively. So far 64863 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1733.95 on 04-May-2023 and a 52 week low of Rs. 1271.75 on 17-Jun-2022. Last one week high and low of the scrip stood a...
HDFC Bank inches up on signing MoU with SIDBI
HDFC Bank inches up on signing MoU with SIDBI
Source: Accord Fintech
7/06/2023 11:13:18 AM
HDFC Bank trades higher on launching two special tenure fixed deposit schemes HDFC Bank is currently trading at Rs. 1614.70, up by 3.35 points or 0.21% from its previous closing of Rs. 1611.35 on the BSE. The scrip opened at Rs. 1622.00 and has touched a high and low of Rs. 1622.00 and Rs. 1611.70 respectively. So far 69528 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1733.95 on 04-May-2023 and a 52 week low of Rs. 1271.75 on 17-Jun-2022. Last one week high and low of the scrip stood a...
HDFC Bank trades higher on launching two special tenure fixed deposit schemes
HDFC Bank trades higher on launching two special tenure fixed deposit schemes
Source: Accord Fintech
1/06/2023 12:23:21 PM
HDFC Bank trades higher as its arm inks pact to subscribes stake in 9Platforms Technology HDFC Bank is currently trading at Rs. 1639.95, up by 24.45 points or 1.51% from its previous closing of Rs. 1615.50 on the BSE. The scrip opened at Rs. 1625.05 and has touched a high and low of Rs. 1640.95 and Rs. 1625.05 respectively. So far 47276 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1733.95 on 04-May-2023 and a 52 week low of Rs. 1271.75 on 17-Jun-2022. Last one week high and low of the scrip stood ...
HDFC Bank trades higher as its arm inks pact to subscribes stake in 9Platforms Technology
HDFC Bank trades higher as its arm inks pact to subscribes stake in 9Platforms Technology
Source: Accord Fintech
29/05/2023 11:07:31 AM
Buy HDFC Bank Ltd For Target Rs. 1,950 - Motilal Oswal Financial Services Ltd Well positioned to lead new-age banking At its analyst day meet, HDFCB management highlighted how the bank is getting future-ready by focusing on strengthening its digital capabilities and sustainable growth after the merger while maintaining RoA at the current level. The bank plans to announce various new initiatives to provide a superior experience to customers. For the bank, technology has moved from being an enabler to being a driver of outcomes. The bank has emphasized that running th...
Buy HDFC Bank Ltd For Target Rs. 1,950 - Motilal Oswal Financial Services Ltd
Buy HDFC Bank Ltd For Target Rs. 1,950 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
26/05/2023 11:41:13 AM
Low growth, high inflation are top risks for India, say economists India's economy will grow about 6% this fiscal year with a small increase in private investment, according to a Reuters poll of economists who said lower growth and high inflation were the biggest risks to the outlook. While that was expected to be faster than other major economies, India needs higher growth and investment to create enough jobs for the millions of people joining the workforce every year. Gross domestic product (GDP) was forecast to have grown at an annual 5.0% in Ja...
Low growth, high inflation are top risks for India, say economists
Low growth, high inflation are top risks for India, say economists
Source: Reuters
26/05/2023 11:30:06 AM
HDFC-HDFC Bank merger in 4-5 weeks; bank's margin to drop, say analysts The HDFC-HDFC Bank Ltd merger is just 4-5 weeks away and would result in lower net interest margin (NIM) for the lender this year, brokerages said on Thursday, a day after the management met analysts. The bank expects NIM – a key profitability measure – to fall to 3.7%-3.8% in 2023-24 from 4.1% a year ago due to the merger, Nomura analysts wrote in a report. However, lower credit costs and operating leverage will largely offset the impact, Nomura said, citing the management,...
HDFC-HDFC Bank merger in 4-5 weeks; bank's margin to drop, say analysts
HDFC-HDFC Bank merger in 4-5 weeks; bank's margin to drop, say analysts
Source: Reuters
25/05/2023 12:19:34 PM
HDFC Bank inches up on the BSE HDFC Bank is currently trading at Rs. 1641.80, up by 1.25 points or 0.08% from its previous closing of Rs. 1640.55 on the BSE. The scrip opened at Rs. 1647.70 and has touched a high and low of Rs. 1647.70 and Rs. 1639.95 respectively. So far 23340 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1733.95 on 04-May-2023 and a 52 week low of Rs. 1271.75 on 17-Jun-2022. Last one week high and low of the scrip stood a...
HDFC Bank inches up on the BSE
HDFC Bank inches up on the BSE
Source: Accord Fintech
23/05/2023 12:59:15 PM
Google Pay launches RuPay credit cards support on UPI in India Google Pay in conjunction with the National Payments Corporation of India (NPCI) on Tuesday rolled out support for RuPay credit cards on Unified Payments Interface (UPI). The users can now link their RuPay credit cards with Google Pay to pay at all online and offline merchants where RuPay credit cards are accepted. The feature is now available to RuPay credit card holders of Axis Bank, Bank of Baroda, Canara Bank, HDFC bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank and Uni...
Google Pay launches RuPay credit cards support on UPI in India
Google Pay launches RuPay credit cards support on UPI in India
Source: IANS
23/05/2023 12:35:03 PM
HDFC Bank trades higher on the BSE HDFC Bank is currently trading at Rs. 1646.00, up by 7.35 points or 0.45% from its previous closing of Rs. 1638.65 on the BSE. The scrip opened at Rs. 1650.00 and has touched a high and low of Rs. 1653.65 and Rs. 1640.20 respectively. So far 141516 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1733.95 on 04-May-2023 and a 52 week low of Rs. 1271.75 on 17-Jun-2022. Last one week high and low of the scrip stood ...
HDFC Bank trades higher on the BSE
HDFC Bank trades higher on the BSE
Source: Accord Fintech
18/05/2023 3:32:33 PM