Tata Consultancy Services, India's largest IT company, sold 50 per cent stake in Intelenet Global Services Ltd to Housing Development Finance Corporation Ltd for Rs 161 crore (Rs 1.61 billion).
Will the intense rate cut war help Indian consumers of home loans? What are the pros and cons of availing home loans that have fixed rates for the first two to three years and then switch to floating rates?
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.
Union Bank of India has tied up with HDFC Standard Life Insurance Company Ltd to provide bank depositors an insurance cover under group policy with a target to bring in 50,000 customers under risk cover by March.
From the Sensex pack, Larsen & Toubro jumped 4.26 per cent to emerge as the biggest gainer, followed by IndusInd Bank, Tech Mahindra, State Bank of India, HCL Technologies, Power Grid, NTPC, Axis Bank, Kotak Mahindra Bank, HDFC Bank and Wipro. Mahindra & Mahindra, Infosys, UltraTech Cement and Hindustan Unilever were the major laggards.
Analysts had on average forecast a net profit of 23.21 billion rupees, according to Thomson Reuters data.
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The total income during the period rose to Rs 8,482.85 crore (Rs 84.82 billion), from Rs 7,388.51 crore (Rs 73.88 billion) in the same period a year ago.
HDFC Bank Ltd has posted a 31.8 per cent rise in net profit at Rs 130.36 crore (Rs 1,303.6 million) for the third quarter ended December 31, 2003, compared to Rs 98.88 crore (Rs 988.8 million) reported in same period of the previous year.
Kotak Mahindra Bank was the biggest loser from the Sensex pack, skidding 1.83 per cent, followed by Axis Bank, NTPC, Hindustan Unilever, ICICI Bank, Bharti Airtel, Reliance Industries, HCL Technologies, IndusInd Bank and Nestle. In contrast, Bajaj Finance, Bajaj Finserv, Tech Mahindra, Tata Consultancy Services, Titan, Infosys, HDFC Bank, HDFC and ITC were the gainers.
Indian companies had raised $2.39 billion from foreign markets in May 2015.
From the Sensex pack, Bharti Airtel, HDFC Bank, Titan, UltraTech Cement, ITC, Sun Pharma, Bajaj Finserv, Bajaj Finance, Hindustan Unilever and Kotak Mahindra Bank were among the major gainers. Tata Steel, Axis Bank, NTPC, ICICI Bank and IndusInd Bank were the major laggards.
A day after the Reserve Bank of India's monetary-tightening measures, banks on began raising interest rates, effecting the hike for the second time in a month.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes' latest Global 2000 list of public companies worldwide.
The combined market valuation of six of the 10 most valued companies surged by Rs 1,56,247.35 crore last week, with Reliance Industries Ltd (RIL) emerging as the biggest gainer. While RIL, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, HDFC and Bajaj Finance saw gains in their market capitalisation (m-cap) in the holiday-shortened week, Infosys, HUL and LIC suffered losses. Stock markets were closed on Tuesday on account of Muharram.
Equity investors became richer by Rs 5.66 lakh crore as markets bounced back sharply on Tuesday following a recovery in global equities. The 30-share BSE Sensex jumped 1,276.66 points or 2.25 per cent to settle at 58,065.47 points. During the day, it zoomed 1,311.13 points or 2.30 per cent to 58,099.94 points. The market capitalisation of BSE-listed firms climbed Rs 566,318.84 crore to Rs 273,92,739.78 crore.
Housing Development Finance Corporation Ltd (HDFC) on Friday posted an increase of 82.54 per cent in net profit at Rs 648.93 crore (Rs 6.49 billion) for the quarter ended December 31, compared to Rs 355.49 crore (Rs 3.55 billion) for the corresponding period in 2006.
HDFC Standard Life Insurance Company Ltd expects a first premium income of Rs 300 crore (Rs 3 billion) from individual policies, even as it plans to raise its capital base by Rs 75-80 crore (Rs 750-800 million) in the fiscal 2003-04.
Subdued Asian and European markets due to escalating trade war between the US and China mainly led to caution on domestic bourses, brokers said.
In its 59-page order, the capital markets regulator Sebi said that the 10-year restraint period for them would be calculated after taking into account the restraint already undergone by him vide an interim order dated June 17, 2010.
Benchmark stock indices Sensex and Nifty cut short their four-day gaining streak to close lower by half a per cent on Wednesday due to profit-taking in banking oil and metal stocks amid weak trends in global markets.
Equity market capitalisation dropped to a seven-month low in February, with the top 10 companies losing a whopping Rs 3,33,307.62 crore in market valuation last week. The total equity market capitalisation (m-cap) in February 2022 stood at Rs 2,49,97,053.39 crore. The previous low was in July 2021, when the m-cap of BSE-listed companies was at Rs 2,35,49,748.9 crore. In January, the m-cap stood at Rs 2,64,41,207.18 crore.
Among the Sensex firms, Bajaj Finance emerged as the biggest gainer by climbing 2.95 per cent. Tata Motors, Bajaj Finserv, IndusInd Bank, Sun Pharma, Mahindra & Mahindra, State Bank of India, Larsen & Toubro, HDFC, HDFC Bank, Maruti, Reliance Industries and Bharti Airtel were the other major winners. HCL Technologies, Axis Bank, ICICI Bank, Tech Mahindra and Titan were among the laggards.
Among the Sensex firms, ITC, SBI, Titan, Power Grid, Larsen & Toubro, Tata Motors, Hindustan Unilever and UltraTech Cement were the major laggards.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Capital markets regulator Sebi has kept in 'abeyance' the proposed initial share sale of securities depository NSDL. However, the Securities and Exchange Board of India (Sebi) did not clarify further. The National Securities Depository Ltd (NSDL) filed its preliminary papers with the capital markets regulator on July 7.
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.
Total of 11 private Indian firms have made it to the list of 500 most valuable companies across the world, and the country is ranked 10th on the chart, as per a report. The total value of these 11 companies grew 14 per cent and has been pegged at $805 billion or nearly a third of the Indian GDP. All these companies in the list of non-state enterprises have gained in value during 2020, which was hit by the pandemic, barring tobacco major ITC and second largest private sector lender ICICI Bank, as per the 'Hurun Global 500' report.
Stock market investors became poorer by Rs 8.30 lakh crore as equities continued their slide for the sixth consecutive day on Friday. The BSE Sensex has tumbled 1,855.58 points or 3 per cent since February 16. During this period, the combined market capitalisation of BSE-listed firms has tanked Rs 8,30,322.61 crore to reach Rs 2,60,00,662.99 crore. "The domestic market is broadly demonstrating a lack of confidence, registering its sixth consecutive day of losses despite global markets turning green.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
With the rise in interest rates, bond yields have been on the rise; this will dent banks' treasury profits. Also, many retail borrowers may find it difficult to service their loans when the loan rates rise, points out Tamal Bandyopadhyay.
Nine of the top-10 most valued domestic companies together added a whopping Rs 2,22,591.01 crore in market valuation last week, with heavyweights RIL, TCS and HDFC twins gaining the most. During the last week, the BSE benchmark Sensex rallied 1,690.88 points or 3.21 per cent. The index reached its all-time high of 54,717.24 on August 5. Barring Bajaj Finance, rest nine companies -- Reliance Industries Ltd (RIL), Tata Consultancy Services (TCS), HDFC Bank, Infosys, Hindustan Unilever Ltd (HUL), ICICI Bank, HDFC, State Bank of India and Kotak Mahindra Bank -- logged gains.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed two spots to No. 53 on Forbes' latest Global 2000 list of public companies worldwide. Forbes Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets and market value, Forbes said releasing the 2022 ranking of the world's top 2,000 companies. Reliance is the top-ranked Indian firm on the list, followed by State Bank of India at No. 105, HDFC Bank at No. 153 and ICICI Bank at No. 204.
Except RIL and CIL, the remaining eight companies among the top 10 witnessed slump in their m-cap
At a time when exchange-traded funds (ETFs) were unloading Jio Financial Services from their portfolios, some active fund managers were placing large bets on the demerged financial services arm of Reliance Industries Ltd (RIL), a report by Nuvama Alternative & Quantitative Research shows. Motilal Oswal Mutual Fund and Quant Mutual Fund were the top MF buyers of the stock in August. They bought around 60 million shares each, together investing around Rs 2,800 crore.
Investors became richer by over Rs 2.27 lakh crore on Monday as equities rebounded, with the BSE Sensex rallying over 1 per cent amid continuous foreign fund inflows and upbeat global markets. The 30-share BSE Sensex jumped 709.96 points or 1.16 per cent to settle at 61,764.25. During the day, it zoomed 799.9 points or 1.31 per cent to 61,854.19. Following the rally, the market capitalisation of BSE-listed firms jumped by Rs 2,27,794.46 crore to Rs 2,76,06,443.06 crore.
Housing Development Finance Corporation Ltd has posted a 28.86 per cent rise in its consolidated net profit at Rs 951.17 crore for the fiscal ended March 31, 2004, compared to Rs 738.09 crore in the previous financial year.
HDFC Bank's 12-month forward price-to-book ratio is estimated to be the highest among 166 large and mid cap banks in Asia Pacific.
Against an offer of 4.55 crore shares of Adani Enterprises Ltd, only 4.7 lakh were subscribed, according to information available from the BSE. Adani Enterprises fell almost 20 per cent to below the offer price of its secondary sale as all the seven listed companies of the conglomerate took a beating in the aftermath of Hindenberg Reserach alleged that the group was "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades".
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