Hdfc bank

FII shareholding in HDFC Bank after the merger will be 66 percent. Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Updates from the two most valuable HDFC group companies, HDFC Ltd and HDFC Bank , about the status of foreign shareholding show there is plenty of room for investors to buy in. Foreign investors held 68.56 percent in Housing Finance Development Corporation Ltd and 66.55 percent in HDFC Bank as on May 13, stock exchange notices showed. Further, the foreign institutional investor (FII) shareholding in HDFC Bank included 20.98 percent owned by HDFC Ltd and its units. Both firms have been receiving queries from investors seeking information on their aggregate foreign shareholding. HDFC Bank shares’ tepid performance over the past year had led the street to believe there was little room left for foreign investors, … [Read more...] about HDFC, HDFC Bank FII shareholding shows lot of room

The Reserve Bank of India (RBI) on May 13 conveyed its approval to the HDFC Bank for setting up a step-down subsidiary through HDFC Securities Ltd, the lender said in a notification to exchanges. This is for offering broking and clearing services in International Financial Services Centre (IFSC) at GIFT City, Gujarat on terms prescribed by the RBI, the bank said. On April 4, Housing Development Finance Corporation and HDFC Bank announced a mega merger ending speculation that stretched over years. As per the plan, HDFC will acquire 41 percent stake in HDFC Bank. Every 25 shares held by HDFC shareholders will fetch them 42 shares of the bank. The merger created an entity that will have a market cap of Rs 12.8 lakh crore and a balance sheet of Rs 17.9 lakh crore. It will take around 15-18 months for HDFC group to get all necessary regulatory approvals for the merger. HDFC twins have close to a dozen subsidiaries, including HDFC Credila and HDB Financial Services, that are in … [Read more...] about Central bank approves HDFC Bank’s request to set up step-down subsidiary

The account aggregator facilitates sharing of financial information in a real-time and data-blind manner between regulated entities. Union Bank of India became the first public sector bank to go live on the Account Aggregator (AA) ecosystem, the bank said on April 29. Touted as the UPI moment for lending, the AA framework ensures swift data sharing with the consent of the user and eliminates the need for physical documents. Since it went live in September 2021 , 332,000 customer accounts have been linked and over 310,000 consent requests have been fulfilled. The framework facilitates sharing of financial information on a real-time basis between regulated entities. AAs are licensed by the Reserve Bank of India to enable the flow of data between Financial Information Providers (FIPs) and Financial Information Users (FIUs). FIPs are institutions that hold customer data and FIUs are entities that consume data to offer better service, underwrite loans, and so on. Banks … [Read more...] about Union Bank becomes first public sector bank to go live on Account Aggregator framework

Eight of the 10 most valued companies suffered a combined erosion of Rs 2,48,372.97 crore in their market valuation last week in line with a weak broader market trend, with Reliance Industries taking the biggest hit. Last week, Sensex lost 2,041.96 points or 3.72 per cent. While Reliance Industries, Tata Consultancy Services, HDFC Bank , Infosys, ICICI Bank, State Bank of India, HDFC and Bharti Airtel were the laggards, Hindustan Unilever Limited and Kotak Mahindra Bank emerged as gainers. The market valuation of Reliance Industries tumbled Rs 1,30,627.7 crore to reach Rs 16,42,568.98 crore. State Bank of India’s market capitalisation (mcap) tanked Rs 35,073.72 crore to Rs 3,97,189.84 crore. The valuation of ICICI Bank plummeted by Rs 29,279.72 crore to Rs 4,70,856.80 crore and that of Infosys eroded by Rs 16,869.36 crore to Rs 6,32,432.92 crore. HDFC Bank’s market valuation diminished by Rs 14,427.28 crore to Rs 7,16,641.13 crore and that of Bharti Airtel declined by Rs … [Read more...] about Mcap of eight of top-10 firms tumbles over Rs 2.48 lakh crore

Image credit: Suneesh K The collective size of just the three equity schemes that Prashant Jain, executive director and chief investment officer at HDFC Asset Management Co Ltd, manages is over Rs 88,400 crore. Among his three marquee schemes, Jain has managed HDFC Balanced Advantage Fund since its inception, i.e., over 28 years. In the Rs 37 trillion mutual fund industry, no other fund manager has managed a single mutual fund scheme for as long. After a weak performance phase due to a narrow run on equity markets that punished the value style of investing, Jain’s schemes have made a comeback. Recently, Jain was a guest on Moneycontrol Pro Masters Virtual, where he spoke on the Russia-Ukraine crisis, the impact of inflation and rising oil prices on the Indian economy and markets, and what investors should do. The Russia-Ukraine war may have started in February, but equity markets have been volatile since October 2021, presumably on the expectation of the US Fed … [Read more...] about Prashant Jain of HDFC MF is prepared for volatility and is betting on sectors like capital goods and energy

File image of Samir Arora, Founder and Fund Manager at Helios Capital It is better to look at traditional, safer companies rather than new-age public listings, according to Samir Arora, Founder and Fund Manager at Helios Capital. "There is no need to try these new things right now because the new is what is being attacked because the new had a lot of expectations and a lot of money coming in. I think that is getting clogged in the United States and it is just a matter of a few months that it will happen in India where somebody will not get new funding and will have to do a down round, I don't think anybody is buying any of these new-age IPO s for the next week, six months,” Arora told CNBC-TV18 in an interview on February 7. Arora said he believes 2022 is going to be a tough year to make money . He added that overhang from the LIC initial public offering (IPO) “is something that will impact the market”. “This year is going to be a tough one in terms of making money. … [Read more...] about Traditional, safer companies better than new-age IPOs: Helios Capital’s Samir Arora

Representational Image. Wholesale prices in India rose 15.1 percent in April from a year earlier, the most in three decades, increasing cost pressures on producers and likely affecting growth, economists said. Inflation as measured by the Wholesale Price Index was at the highest level on record in the current 2011-12 series. Prices of food, fuel and manufacturing registered an exponential spike in April, with the sharpest increases in fuel and power prices. While WPI has risen considerably since 2015, the 13 percent jump between FY21 and FY22 was the highest. Global factors Close The index is dominated by manufactured products, which have a weight of 64 percent and are influenced significantly by global factors such as the pandemic and geopolitical tensions. Consequently, an increase in global prices gets reflected more in the WPI, according to economists. “The key factors behind the increase in the WPI are elevated global commodity prices and … [Read more...] about Wholesale price increases can threaten growth recovery, say economists

The market breadth was in favour of bears as four-and-half shares declined for every share rising on the NSE. The Nifty50 on May 11 failed to hold on to the early rebound and traded lower for a major part of the session amid volatility, continuing the downtrend for the fourth consecutive session. Auto, technology, and FMCG stocks were under pressure. The index smartly defended the psychological 16,000 mark and recouped more than 170 points from the day's low to form a bearish candle which resembles the Hammer kind of pattern on the daily charts. The Hammer is a bullish reversal pattern formed after a decline. It consists of no upper shadow, a small body, and a long lower shadow. The long lower shadow signifies the stock bounced back after testing its support, where demand is located. Experts say generally such pattern formation is an indication of some kind of pullback rally but only if the coming session closes on a strongly positive note. The volatility index climbed … [Read more...] about Technical View | Nifty forms Hammer pattern, pullback trade likely

India’s largest life cover provider Life Insurance Corporation of India (LIC) made a lacklustre debut on the bourses on May 17, with declining nearly 9.4 percent after its initial public offering was subscribed nearly three times last week. The stock opened at Rs 867.20, against an issue price of Rs 949 on the BSE and touched a high and a low of Rs 886.80 and Rs 860.10, respectively. At 10.05am, the scrip was trading at Rs 883.40 on BSE, down 7 percent from its issue price of Rs 949 a share. India's benchmark Sensex rose 0.62% to 53224 points. Corrections in the equity markets globally seem to have hit the listing for the biggest public issue in the history of the Indian capital market. The situation was worsened by mounting inflationary pressure, stricter lockdowns imposed in China to combat Covid outbreak, and an unabated war on Ukraine by Russian forces. After the debut in the market, LIC has become the fifth most-valued Indian listed firm with a market capital of Rs 5.71 … [Read more...] about LIC share lists with 9.4% discount, stock debuts on BSE at Rs 867

Representative image Manisha Mohite, a 38-year-old street-food seller in Mumbai’s Goregaon, is struggling to feed her family of seven. Mohite may have to shut her five-month-old chaat stall in Goregaon, a slum area, because of the increasing prices of food articles, oil and cooking gas. Even to pay for daily necessities has become a struggle. “Almost everything is costly, right from onions and tomatoes to oil. Where do we get money,”  Mohite said in between serving a customer. The number of customers visiting her stall has fallen sharply as inflation surged, she said. “No one wants to pay even Rs 5 more on a chaat plate. We may have to close this soon,” said Mohite. Close Consumer price inflation in April accelerated to 7.79 percent, the fastest pace since the 8.3 percent recorded in May 2014, indicating a sharp uptrend in prices across the board and remaining above the upper limit of the central bank’s tolerance band of 6 percent for the fourth month … [Read more...] about India’s inflation heat : As prices skyrocket, poor households face a double whammy, cut spending