The new interest rates will be effective from August 19 and will be applicable to both resident and non-resident customers.
The m-cap of HDFC Bank soared Rs 13,030.16 crore to Rs 3,10,188.96 crore, emerging as the biggest gainer among the top-10 firms.
The Reserve Bank of India (RBI) is expected to cut interest rates for the first time in nearly five years in Governor Sanjay Malhotra's first monetary policy committee (MPC) meeting on Wednesday. The meeting of the six-member MPC, which will culminate on Friday, aims to boost sluggish economic growth, which is seen falling to a four-year low. Malhotra took charge as the 26th RBI governor in December last year.
The central bank may classify them as foreign-owned Indian banks.
Among the 30 Sensex firms, Bajaj Finance, Infosys, Adani Ports, JSW Steel, HCL Tech, Bharti Airtel, IndusInd Bank and Tata Motors were the biggest laggards. ICICI Bank, Bajaj Finserv, Titan, Nestle and HDFC Bank were among the gainers.
Commercial banks in India reported a sixth consecutive year of rise in their net profits in 2023-24 while bad loans continued to fall, according to the Reserve Bank of India's (RBI's) annual publication "Trends and Progress of Banking in India", released on Thursday. "Banks' profitability rose for the sixth consecutive year in 2023-24 and continued to rise in H1:2024-25 with the return on assets (RoA) at 1.4 per cent and return on equity (RoE) at 14.6 per cent," the report said.
Most lenders that have reported their April-June business update posted slower growth in deposits sequentially as compared to the loan growth in the April-June quarter of 2024-25 (FY25). Current and savings account (CASA) deposits continue to face pressure. Private-sector lenders YES Bank, Bandhan Bank, and RBL Bank saw their deposit growth contract by 0.5 per cent, 1.5 per cent, and 2 per cent, respectively.
The lender's comfortable liquidity position, combined with downward bias in interest rates and slow credit growth expectations in the first three months of this financial year, has allowed it to take this decision.
Benchmark equity indices Sensex and Nifty ended lower on Monday after hitting their all-time high levels in early trade amid selling in blue-chip IT stocks and HDFC Bank. After breaching the 77,000-mark during the early trade, the 30-share BSE Sensex came under selling pressure at the fag-end of the session and ended 203.28 points or 0.27 per cent lower at 76,490.08. During the day, the benchmark jumped 385.68 points or 0.50 per cent to hit a new record of 77,079.04.
From the 30 Sensex firms, Mahindra & Mahindra, Bajaj Finance, Asian Paints, Nestle, Bharti Airtel, UltraTech Cement, Hindustan Unilever, ITC, and HDFC Bank were the major laggards. In contrast, Infosys, Tech Mahindra, Tata Motors, Axis Bank, Tata Consultancy Services and State Bank of India were among the gainers.
From the 30 Sensex firms, Tata Consultancy Services and HCL Technologies dropped over 3 per cent each. Infosys, Tech Mahindra, Sun Pharma and Tata Motors were the other major laggards. Bajaj Finance, Bajaj Finserv, Nestle, HDFC Bank, ICICI Bank and State Bank of India were among the biggest gainers.
Stock market investors became richer by a whopping Rs 77.66 lakh crore in 2024, helped by an overall optimistic trend in equities, where the BSE Sensex surged over 8 per cent. Analysts said the year witnessed a tug of war between the bulls and bears marked by volatility but, despite the uncertainties around the world, the Indian markets sustained the pressure and delivered impressive returns.
From the Sensex stocks, Maruti Suzuki India, Tata Motors, JSW Steel, Larsen & Toubro, Tata Steel, Mahindra and Mahindra, Tata Consultancy Services, Tech Mahindra, HCL Technologies and Infosys were the laggards. HDFC Bank, Sun Pharmaceuticals, Kotak Mahindra Bank, Nestle India and Asian Paints were among the gainers.
From the 30-share pack, Adani Port, Bharti Airtel, Asian Paints, IndusInd Bank, Bajaj Finserv, Reliance Industries, Infosys, UltraTech Cement, HDFC Bank, HCL Technologies and ICICI Bank were among the laggards. Tata Motors, Axis Bank, Maruti, Larsen & Toubro, ITC and Tata Steel were among the gainers.
Shares of state-owned bank stocks were under pressure on Monday due to muted deposit and credit growth numbers reported by these lenders in the October-December quarter (Q3) of 2024-25 (FY25). The Nifty PSU Bank index was down 4 per cent, with Union Bank of India emerging as the biggest loser as its shares fell 7.5 per cent to close at Rs 114.7, followed by a 5.7 per cent drop in shares of Bank of Baroda (BoB) to Rs 228 and a 4.7 per cent slide in shares of Bank of India to Rs 99.8 on the National Stock Exchange.
Credit card spending reached Rs 2 trillion in October, a 14.5 per cent rise from September, largely driven by festival season purchases. However, the volume of outstanding credit cards increased only marginally during the same period. The spike in spending comes at a time when nearly all major credit card issuers are calibrating their growth in the segment due to visible signs of stress.
At other bank ATMs, the customers of these banks will be charged beyond three transactions.
The country's second largest private sector lender HDFC Bank on Thursday reported a net profit of Rs 630.88 crore (Rs 6.30 billion) in the fourth quarter of the financial year ended March 31, 2009.
From the 30 Sensex firms, NTPC, Nestle, Titan, Kotak Mahindra Bank, Maruti, Hindustan Unilever, Bharti Airtel and HDFC Bank were the biggest gainers. HCL Technologies, Tata Consultancy Services, Adani Ports, Larsen & Toubro, JSW Steel, State Bank of India, Tech Mahindra and Bajaj Finance were among the laggards from the pack.
All sectoral indices ended lower. BSE Telecommunication tanked 2.18 per cent, metal (1.77 per cent), auto (1.70 per cent), energy (1.64 per cent), oil & gas (1.59 per cent), commodities (1.39 per cent) and financial services (1.37 per cent) were the major laggards.
Among the 30 Sensex firms, Bajaj Finance, Mahindra & Mahindra, NTPC, Power Grid, Bajaj Finserv, Bharti Airtel and Tata Consultancy Services were the biggest gainers. In contrast, Tata Motors, HDFC Bank, Reliance Industries, Tech Mahindra and ITC were among the laggards.
'If individual stocks start falling 25% to 30% or more, then I doubt how many of them will be able to withstand that (kind of selloff). That is when you'll see panic coming in.'
In a reprieve for HDFC Bank, Securities and Exchange Board of India on Thursday allowed the bank to open new demat accounts saying there was no need to continue its earlier directions that barred the bank from opening new accounts.
Among the 30 Sensex firms, HCL Technologies, NTPC, Bajaj Finserv, Tech Mahindra, JSW Steel, Titan, Mahindra & Mahindra, Tata Steel, Larsen & Toubro and Tata Consultancy Services were the biggest gainers. Kotak Mahindra Bank, IndusInd Bank, Maruti and Hindustan Unilever were among the laggards.
From the Sensex pack, Tata Motors, Sun Pharmaceutical, Bharti Airtel, Bajaj Finserv, ICICI Bank, Mahindra & Mahindra and JSW Steel were the gainers. Tech Mahindra, HCL Technologies, Asian Paints, Titan, Infosys, State Bank of India, Tata Consultancy Services and HDFC Bank were the laggards.
From the 30 Sensex firms, Mahindra & Mahindra, JSW Steel, Maruti, Tata Steel, Larsen & Toubro, ICICI Bank, Power Grid, Nestle, Bharti Airtel and Adani Ports were the biggest gainers. Tata Consultancy Services emerged as the only laggard.
HDFC Bank on Monday reported a 31 per cent increase in net profit at Rs 199.64 crore (Rs 1.99 billion) for the quarter ended September 30, 2005 when compared with Rs 152.29 billion in the quarter ended September 30, 2004.\n
The week's losses wiped out investor wealth worth Rs 18.43 trillion, with the total market capitalisation of BSE-listed firms now at Rs 441 trillion.
Investors should view any bounce-back in bank stocks as an opportunity to exit the pack, analysts suggested, as the worst may not be over yet. The recent quarterly results of HDFC Bank and Axis Bank disappointed the Street, triggering a marketwide selloff by foreign institutional investors, especially in banking counters. While HDFC Bank, which was the anchor for the market correction during the past week, ended 2 per cent higher amid short covering on Wednesday, Axis Bank's shares settled 3 per cent lower.
Private sector HDFC Bank on Friday reported a 30 per cent jump in net profit at Rs 1,859.07 crore for the October-December quarter of the current fiscal, mainly on account of increased loan book.
From 30 Sensex firms, Adani Ports, NTPC, Power Grid, State Bank of India, Nestle, Mahindra & Mahindra, Reliance Industries and Tata Consultancy Services were the biggest laggards. Axis Bank, Infosys, JSW Steel, Tata Motors, HDFC Bank and Kotak Mahindra Bank were among the gainers from the blue-chip pack.
Among the Sensex firms, Power Grid, Kotak Mahindra Bank, Tech Mahindra, Bajaj Finserv, ITC, Bharti Airtel, Nestle, NTPC, Bajaj Finance, Reliance Industries, Infosys and HDFC Bank were the major gainers.
HDFC Bank Ltd on Friday posted a 30.38 per cent rise in net profit at Rs 239.30 crore (Rs 2.39 billion) for the quarter ended June 30, as compared to Rs 183.53 crore (Rs 1.83 billion) for the corresponding quarter in the year 2005-06.
Among the Sensex firms, Bajaj Finance jumped 4.44 per cent and NTPC rose over 3 per cent. IndusInd Bank, Axis Bank, Tata Motors, Nestle, Power Grid, Infosys, Bajaj Finserv and HDFC Bank were the other major winners. HCL Tech, Mahindra & Mahindra, Maruti and Hindustan Unilever were among the laggards.
Among Sensex firms, HDFC Bank climbed more than 2 per cent. TCS, Maruti, Infosys, Reliance Industries and Bharti Airtel were among the major gainers. State Bank of India, JSW Steel, ITC, Tata Motors, UltraTech Cement and Nestle were among the laggards.
Among the Sensex pack, Kotak Mahindra Bank, Bharti Airtel, IndusInd Bank, Tata Motors, ICICI Bank, Bajaj Finance, State Bank of India and Titan were the biggest laggards. Larsen & Toubro, Infosys, HDFC Bank, Tata Consultancy Services, HCL Technologies and Tata Steel were the biggest gainers.
The outcome of the Union Budget, quarterly earnings from corporates and global trends are the major factors to drive stock market sentiments this week, analysts said. Besides, the trading activity of foreign investors, the rupee-dollar trend and the movement of global oil benchmark Brent crude are also crucial aspects to watch out for.
One97 Communications (OCL), the company that operates brand Paytm, received a nod from the National Payments Corporation of India (NPCI) to onboard new Unified Payments Interface (UPI) users. This comes nearly nine months after the Reserve Bank of India (RBI) placed an embargo on OCL to add new customers.
