HDFC Bank May Sell Assets, US Markets Mixed | All You Need To Know | NDTV Profit NDTV Profit
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Category: HDFC Bank
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India’s steel majors seeking govt intervention to control raw materials prices | Commodities Corner
India’s Steel Majors Are Seeking Govt Intervention To Control Raw Materials Prices. Mills has flagged issues in the price discovery process of coking coal by international players and has reportedly asked the government to push for a “more realistic” price discovery mechanism. Steel makers, through the Indian Steel Association (ISA) – which includes AM/NS India, JSW, Tata Steel, Jindal Steel & Power and PSUs like SAIL and RINL – have called for intervention and action across two key…
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Source: https://www.moneycontrol.com/
Private banks grow personal loan book aggressively – Banking & Finance News
Private banks have continued to grow their personal loan books in the September-December quarter even after the Reserve Bank of India (RBI) raised risk weights for unsecured loans. According to the banks’ latest quarterly numbers, their personal loan books have risen between 10% and 86% year-on-year (yoy).
Leading banks like ICICI Bank, Kotak Mahindra Bank and Axis Bank have grown their books 37%, 32% and 28% yoy, respectively. Others like IndusInd Bank and Federal Bank have been more aggressive by growing at 57% and 86% yoy. The largest private lender HDFC Bank saw a relatively slower growth of 10% yoy.
However, bankers say that the rise in the lending has not been in the…
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Buy IT midcaps on dips; may consider HDFC Bank at around Rs 1,300: Sandip Sabharwal
Sandip Sabharwal, asksandipsabharwal.com, holds ICICI Bank and will continue to hold as the biggest holder. He has Axis Bank where the investors have got concerned in the short term because of the slow growth prediction which they have given for the industry, which is prudent. Ex of that, he is not holding any other banking stock. If HDFC Bank comes to around Rs 1300 levels, he would be interested.ET Now: What is your take on cement as a pack and do you have a favourite within that?Sandip Sabharwal: Cement industry is very interestingly poised today because on one side, costs are coming down and helping the profitability. On the other hand, there is decent demand but the supply increase…
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Hdfc Bank Outlook for the Week (January 29, 2024 – February 02, 2024)
HDFC Bank’s era of premium valuations is over
Rare things do command a premium. So did HDFC Bank. In an era when Indian lenders were funding projects worth thousands of crores to secure quick growth, Aditya Puri’s HDFC Bank was chasing thousands of individual salaried men to fund their car and mobile phone purchases. His belief was that someone with a regular income who borrows to buy a car or spends to buy a refrigerator with his credit card is more trustworthy and pays a higher interest than billionaire industrialists who build unviable plants in funding structures that were skewed against lenders. Because of lending to individuals who pay more than those who build roads or power plants, HDFC Bank for years reported a net…
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LIC gets RBI approval to acquire 9.99% stake in HDFC Bank
New Delhi, Jan 25 (IANS): The Reserve Bank of India (RBI) has accorded its approval to LIC for acquiring aggregate holding up to 9.99 per cent of the paid-up share capital or voting rights of HDFC Bank Limited.
The approval has been granted with reference to the application submitted by LIC to RBI.
The aforesaid approval granted by RBI is subject to the conditions mentioned therein, including compliance with the relevant provisions of the Banking Regulation Act, 1949, RBI’s Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies…
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Source: https://www.daijiworld.com/index.php/news/newsDisplay?newsID=1161846
Sell-off in HDFC Bank wipes out $25 billion of Mcap in last six months
The latest rout in shares of HDFC Bank has not only narrowed its valuation gap with the fourth largest private lender, Axis Bank, but the former has also witnessed a massive erosion in market valuation. The country’s largest private lender currently commands a market valuation of $131 billion, which compares with a market valuation of $156.2 billion boasted at its peak in July last year. To put this in perspective, there are only 35 companies in India that boast a market capitalisation of at least $25 billion as of Thursday’s close. Shares of HDFC Bank have corrected by as much as 16% in the first month of 2024, and it continues to drag both the benchmark Nifty50 and Nifty Bank…
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RBI gives nod to LIC to acquire 9.99 percent stake in HDFC Bank
RBI gives nod to LIC to acquire 9.99 percent stake in HDFC Bank – Qrius 26 Jan, 24 LIC to acquire 9.99% stake in India’s largest private sector bank, HDFC Bank Gauravyawalkar.2012 via Wikimedia Commons HDFC Bank announced on Thursday that the Reserve Bank of India (RBI) has allowed the Life Insurance Corporation (LIC) of India to acquire a 9.99 percent stake in the company.‘LIC has been advised by RBI to acquire the aforesaid major shareholding in the Bank within a period of one year i.e. by January 24, 2025,’ HDFC Bank said in regulatory filing.‘Pursuant to Regulation 30 of the SEBI Listing Regulations, we would like to inform you that the Reserve…
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Source: https://qrius.com/rbi-gives-nod-to-lic-to-acquire-9-99-percent-stake-in-hdfc-bank/
LIC to acquire 9.99% stake in HDFC Bank
The Reserve bank of India (RBI) on Thursday accorded its approval to Life Insurance Corporation (LIC) for acquiring up to 9.99% stake of the paid-up share capital or voting rights of HDFC Bank.India’s largest insurer LIC has been advised by the banking regulator to acquire this shareholding in the bank within a period of one year by January 24, 2025.”Further, LIC must ensure that the aggregate holding in the Bank does not exceed 9.99% of the paid-up share capital or voting rights of the Bank at all times,” the HDFC Bank says in a regulatory filing.The approval has been granted with reference to the application made by LIC to RBI. The aforesaid approval granted by RBI is subject to the…
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Source: https://www.fortuneindia.com/amp/story/enterprise%2Flic-to-acquire-999-stake-in-hdfc-bank%2F115513