Thursday, December 26

Tag: hdfc

HDFC Bank opens branch in Kavaratti island, 1st private lender to do so | Company News
10Apr By adminNo Comments
Business

HDFC Bank opens branch in Kavaratti island, 1st private lender to do so | Company News

HDFC Bank | Image credits: Bloomberg Largest private sector lender HDFC Bank on Wednesday inaugurated a branch in Lakshadweep's Kavaratti island. The bank becomes the first private sector lender to have a presence in Lakshadweep, according to a statement. The bank seeks to serve customers wherever they are and looks forward to serving the financial needs of individuals, families, and businesses in Lakshadweep, the bank's retail branch banking group head S Sampathkumar said. The branch was inaugurated by Captain Lovekesh Thakur, Commanding Officer, Indian Navy and K P Muthukoya, a well-known resident, in the presence of bank officials, the statement said.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest ...
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HDFC Credila raises $100 million via ECB route for loan book expansion | Company News
9Apr By adminNo Comments
Business

HDFC Credila raises $100 million via ECB route for loan book expansion | Company News

DBS Bank had announced the launch of its IFSC Banking Unit (IBU) in GIFT City Gandhinagar in 2023, the statement said. Photo: Bloomberg Education loans-focused lender HDFC Credila Financial Services on Tuesday said it has raised $100 million in external commercial borrowing (ECB). DBS Bank's IFSC banking unit in Gujarat International Finance Tec-City (GIFT City) said in a statement that it led the syndicated loan. The funds will be used for growing the retail education loan franchise, it said. "We are pleased to have concluded a $100 million ECB transaction with DBS Bank as the lead arranger," Credila's Managing Director and Chief Executive Arijit Sanyal said.   DBS Bank India Managing Director Rajat Verma said the education loan company is poised ...
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M-cap of 7 most valued cos add Rs 3.04 trn; HDFC Bank, LIC biggest gainers
10Dec By adminNo Comments
Business

M-cap of 7 most valued cos add Rs 3.04 trn; HDFC Bank, LIC biggest gainers

The combined market valuation of seven of the 10 most valued firms climbed Rs 3,04,477.25 crore last week, with HDFC Bank and LIC emerging as the biggest gainers amid an overall optimistic trend in equities. Last week, the BSE benchmark rallied 2,344.41 points or 3.47 per cent. On Friday, the 30-share BSE Sensex rose 303.91 points, or 0.44 per cent, to hit its new peak of 69,825.60. The index touched the highest intra-day level of 69,893.80. HDFC Bank, Life Insurance Corporation of India (LIC), ICICI Bank, Tata Consultancy Services, and Reliance Industries were among the companies that recorded additions in their market valuation. HDFC Bank's valuation soared by Rs 74,076.15 crore to Rs 12,54,664.74 crore. The market capitalisation (mcap) of Life Insuran...
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Sensex: Sensex, Nifty extend losses into 4th session; HDFC shares weigh
22Sep By adminNo Comments
Business

Sensex: Sensex, Nifty extend losses into 4th session; HDFC shares weigh

MUMBAI: Equity benchmark indices Sensex and Nifty stayed on the back foot for the fourth straight session on Friday as investors offloaded healthcare, consumer durable and commodity stocks amid a weak trend in global markets.Foreign fund outflows and heavy selling in HDFC shares also hit investor sentiments, traders said.After oscillating nearly 500 points between gains and losses during the day, the 30-share BSE Sensex declined 221.09 points or 0.33 per cent to settle at 66,009.15. During the day, it hit a high of 66,445.47 and a low of 65,952.83.The Nifty fell 68.10 points or 0.34 per cent to end at 19,674.25.In the early trade, the benchmark indices had climbed after global financial firm JP Morgan said it plans to include Indian government bonds (IGBs) or government securities (G-Secs...
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HDFC Bank becomes 2nd most valuable company; TCS falls to 3rd place
20Jul By adminNo Comments
Business

HDFC Bank becomes 2nd most valuable company; TCS falls to 3rd place

NEW DELHI: HDFC Bank on Thursday became the second most valuable company by market capitalisation, overtaking IT behemoth Tata Consultancy Services.At the close of trade, HDFC Bank, which recently completed the merger of its mortgage financier parent HDFC into itself, commanded a market capitalisation (mcap) of Rs 12,72,718.60 crore, which was Rs 5,826.95 crore more than TCS' Rs 12,66,891.65 crore valuation on the BSE.Shares of HDFC Bank ended at Rs 1,688.50 apiece, up 0.22 per cent on the BSE. During the day, it climbed 0.36 per cent to Rs 1,690.95.However, shares of TCS dipped 0.25 per cent to end at Rs 3,462.35 each. During the day, it fell 1 per cent to Rs 3,436.HDFC, the parent of HDFC Bank, merged into the lender on July 1.The USD 40 billion merger, the largest such deal in the Indi...
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Hdfc: Share listing today to decide merged HDFC Bank’s mcap
17Jul By adminNo Comments
Business

Hdfc: Share listing today to decide merged HDFC Bank’s mcap

MUMBAI: Will HDFC Bank move up the valuation ranks on Monday? It is currently the 11th biggest lender globally in terms of market capitalisation. Markets will determine the post-merger value of the bank on Monday as securities issued in lieu of HDFC shares get listed on the exchanges.HDFC Bank is also set to announce its results for the first quarter of FY23 on Monday, which will indicate the merger’s cost on the bank’s profit.As part of its merger with the bank, mortgage lender HDFC’s shares stopped trading on Wednesday nearly 44 years after they were listed on stock exchanges. In a letter to shareholders, HDFC Bank said it has completed the allotment of equity shares to its shareholders in accordance with the amalgamation scheme.Although the HDFCHDFC Bank merger was completed on July 1,...
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LTIMindtree to replace HDFC in Nifty Index following merger with HDFC Bank
4Jul By adminNo Comments
Business

LTIMindtree to replace HDFC in Nifty Index following merger with HDFC Bank

As a result of the merger between mortgage lender HDFC and HDFC Bank, LTIMindtree, the sixth-largest IT company in India, will take HDFC's position in the heartbeat index Nifty. The decision to replace HDFC with LTIMindtree was made during a meeting of the Index Maintenance Sub-Committee (Equity) of NSE Indices. The effective date for this change is set for July 13 after the close of trading on July 12 as stated by NSE. Based on preliminary calculations as reported by the Economics Times, the reshuffling of the index is expected to result in an inflow of approximately $150-160 million from passive funds into LTIMindtree. Currently, LTIMindtree is part of the Nifty Next50 index, also known as Junior Nifty. However, starting from July 13, Jindal Steel & Power...
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Icici Bank: Life-time highs: Why Sensex, Nifty are creating new records
3Jul By adminNo Comments
Business

Icici Bank: Life-time highs: Why Sensex, Nifty are creating new records

NEW DELHI: Both Indian indices continued their upward journey on Monday, with the BSE Sensex closing above the historic 65,000 level for the first time ever.The BSE Sensex, rallying for the fourth consecutive session, soared by 486.49 points or 0.75% to achieve a new all-time closing high of 65,205.05. Intraday, it reached a peak of 65,300.35, gaining 581.79 points or 0.89%.Similarly, the NSE Nifty climbed 133.50 points or 0.70% to close at a record high of 19,322.55. It also hit an all-time intraday peak of 19,345.10, surging by 156.05 points or 0.81%.Financial services stocks were the major gainers. Leading the charge, HDFC and HDFC Bank, prominent index heavyweights, witnessed gains of 1.75% and 1.08% respectively. This surge came after the approval of their $40 billion merger, with Ju...
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