From the 30-share blue-chip pack, Mahindra & Mahindra, Zomato, Tata Motors, IndusInd Bank, Reliance Industries, Larsen & Toubro, UltraTech Cement, HDFC Bank, Adani Ports and Bajaj Finserv were among the major laggards. On the other hand, Hindustan Unilever, Tech Mahindra, Nestle, Bharti Airtel and ICICI Bank were among the gainers.
HDFC Bank today said its non-tax provisions and contingencies had risen 74.1 per cent to Rs 471.1 crore in the fourth quarter of 2007-08. Still, the bank reported a 37.1 per cent rise in net profit to Rs 471.1 crore for the quarter. This included a steep rise in tax, legal and other contingencies to Rs 172.7 crore, from around Rs 50 crore during the fourth quarter in 2006-07.
HDFC Bank has awarded a contract worth Rs 6.2 crore (Rs 62 million) to Servion Global Solutions for the upgradation of its call centre services.
Titan, Nestle, Hindustan Unilever, State Bank of India, Larsen & Toubro, ITC, Zomato and Bajaj Finserv were also among the laggards. Adani Ports, IndusInd Bank, Tata Motors and HDFC Bank were among the major gainers.
HDFC Bank has reported a 20% rise in its Q2 profit.
Quarterly earnings from corporates, global trends, and trading activity of foreign investors will guide market sentiment this week, analysts said, adding that benchmark indices may face volatile trends. "The upcoming release of Q2 results will be closely watched, providing insights into corporate performance. "Meanwhile, the escalating tensions between Israel and Iran introduce a significant geopolitical risk, potentially leading to increased oil prices and market volatility.
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
Investors' wealth tumbled by Rs 9 lakh crore on Friday, in tandem with a sharp decline in the domestic equity market, where the benchmark Sensex plunged 1,414 points following a bearish trend in global equities. Fresh tariff threats that ignited global trade war fears and relentless foreign fund outflows dented investor sentiment, analysts said.
From the 30-share Sensex pack, Mahindra & Mahindra, Infosys, HCL Technologies, Adani Ports, Bajaj Finance, Tech Mahindra, Titan, Tata Consultancy Services, Reliance Industries and Power Grid were among the laggards. On the other hand, State Bank of India was the only gainer.
From the 30-share blue-chip pack, Adani Ports, UltraTech Cement, Larsen & Toubro, Sun Pharma, HDFC Bank, ICICI Bank, NTPC and State Bank of India were the major laggards. Tata Consultancy Services, Reliance Industries, ITC, Asian Paints, HCL Tech and Maruti were among the gainers.
'What is working is quality management, great teams, engineers, platforms, and highly differentiated services.'
"At best, the two can be called as Indian-controlled banks," DIPP secretary R P Singh said when asked about the government's stand in the wake of the two seeking clarifications on the matter.
Benchmark equity indices Sensex and Nifty pared early gains to settle lower on Wednesday due to late selling in index major Reliance Industries, ITC and HDFC Bank even as the RBI took the first step towards a rate cut in its monetary policy review. Erasing its early gains, the 30-share BSE Sensex fell 167.71 points or 0.21 per cent to close at 81,467.1. During the day, it surged 684.4 points or 0.83 per cent to hit an intra-day high of 82,319.21.
Net NPAs increased to Rs 36,260 crore in the December quarter from Rs 34,843 crore in September and Rs 33,116 crore in December 2023, observes Tamal Bandyopadhyay.
From the Sensex stocks, Power Grid, NTPC, HDFC Bank, Nestle India, Adani Ports and Special Economic Zone, Maruti Suzuki India and Reliance Industries were the major gainers. In contrast, Mahindra and Mahindra, Tata Steel, Bajaj Finserv, State Bank of India, Larsen & Toubro and Tata Motors were the laggards.
The country's largest private lender HDFC Bank's bad-loan write-offs doubled to Rs 3,100 crore in the April-June quarter (first quarter, or Q1) of 2021-22 (FY22), from the level of Rs 1,500 crore in the same quarter of 2020-21 (Q1FY21). It also offloaded its non-performing assets (NPAs) amounting to Rs 1,800 crore in Q1FY22 to maintain a robust asset quality profile. It had jettisoned NPAs worth Rs 1,000 crore in the last quarter. Lenders knock off stress assets from books after making full provisions. Their right to recover dues from delinquent borrowers remains intact after the write-downs.
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The country's second largest private sector lender HDFC Bank promoted Paresh Sukthankar as the deputy managing director.
The bank's base rate currently stands at 10 per cent and the last movement in it was in November last year, when it was hiked by 0.20 per cent.
From the 30-share Sensex pack, Adani Ports surged 6 per cent. NTPC, HDFC Bank, Bajaj Finance, Maruti and Axis Bank were among the other gainers. In contrast, Titan, State Bank of India, Asian Paints, Tata Consultancy Services, HCL Tech, Sun Pharma, IndusInd Bank and ICICI Bank were among the laggards.
HDFC Bank Ltd has reported a 30.48 per cent rise in net profit at Rs 387.6 crore (Rs 3.87 billion) for the fiscal ended March 31, 2003, compared to Rs 297.04 crore (Rs 2.97 billion) posted in the previous fiscal.
Lender had 5.12 mn cards - almost a third of the total number of credit cards in the industry - at the end of November, 2013.
The charges would apply to savings as well as salary accounts
The credit growth is expected to be better in the next financial year on the back of higher gross domestic product (GDP) growth, according to HDFC Bank Ltd, the country's second largest private lender.
Analysts had on average forecast a net profit of 23.21 billion rupees, according to Thomson Reuters data.
HDFC Bank, India's second-largest private bank, has overtaken ICICI Bank, the largest private player, in terms of market capitalisation to top the rankings among private banks.
The Delhi Consumer Commission has directed the HDFC Bank to pay Rs 35,000 as compensation to an export house for forcibly seizing a financed car on its failure to pay two instalments.
When costs go down, interest rates will go down, says managing director and CEO Aditya Puri.
Leading private sector lender HDFC Bank on Monday reported a 33.8 per cent increase in its June quarter net profit at Rs 811.71 crore (Rs 8.11 billion).
The money mule scam has reached Indian shores. Banks have noticed instances of fraudsters based overseas, posing as global payment companies, luring gullible people into joining them as "money transfer agents" and using their bank accounts to route ill-gotten money.
Credit card spending in September recorded strong growth of 25 per cent year-on-year (Y-o-Y), marking the highest increase in six months. Even as many banks saw higher slippages during the July-September quarter of 2024-25, spending growth exceeded 20 per cent for the first time since February. According to the latest data released by the Reserve Bank of India (RBI), September spending reached Rs 1.76 trillion, compared to Rs 1.42 trillion in the same period a year ago. In August 2024, credit card spending was Rs 1.68 trillion.
Axis Bank, IndusInd Bank, HDFC Bank, State Bank of India, Kotak Mahindra Bank and UltraTech Cement were also among the big gainers. Adani Ports, ITC, Bharti Airtel and Asian Paints were among the laggards.
ICICI works on similar lines; alternative to Business Correspondents to reach financial inclusion targets.
Volatile stock market movements are likely to continue to spook the potential investors, while huge returns enjoyed just a few days ago may not be repeated, HDFC Bank said.
The last time this happened was in 1996.
HDFC Bank proposes to raise Rs 4,200 crore (Rs 42 billion) through a mix of preference shares to its promoters and domestic and overseas equity issues.
From the 30-share Sensex pack, Hindustan Unilever, NTPC, Nestle, IndusInd Bank, Power Grid, Adani Ports, Tata Motors and Bajaj Finserv were the major laggards. Reliance Industries, Kotak Mahindra Bank, Tech Mahindra, Mahindra & Mahindra and HDFC Bank were among the gainers.
HDFC Bank has hiked its benchmark prime lending rate (BPLR) by 0.25 per cent to 15.25 per cent with immediate effect.
