Reliance Industries, ICICI Bank, State Bank of India, ITC, Hindustan Unilever, and Life Insurance Corporation of India (LIC) were the gainers, Tata Consultancy Services (TCS), HDFC Bank, Bharti Airtel, and Infosys faced erosion from their market valuation.
HDFC Bank has issued an advisory, urging its customers to stay vigilant and avoid falling victim to fraudulent practices like digital arrest.
Last week, nine of the top 10 most valued firms together lost a whopping Rs 2,09,952.26 crore from market valuation. Hindustan Unilever and Reliance Industries Limited took the biggest hit.
HDFC Bank’s deposit growth for the second quarter of the financial year (Q2 FY25) has outpaced its credit growth on a sequential basis.
Global brokerage firm BofA downgraded the stock of HDFC Bank to 'neutral' from 'buy’ resulting in the decline of bank’s shares nearly a percent to Rs 1,622 a piece on Wednesday.
The company's profit before tax for the quarter ended March 31, 2022 stood at Rs 4,622 crore compared to Rs 3,924 crore in the corresponding quarter of the previous year, representing a growth of 18 per cent
"...the weakness in HDFC twins after the merger announcements is due to sustained selling by FPIs and shorting by speculators exploiting the FPI positioning in the stocks,"
According to brokerage firm Edelweiss, HDFC Bank's net profit is expected to increase by 24 per cent to Rs 10,183 crore in January-March 2022 quarter.
In a major development, Housing loan firm Housing Development Finance Corporation on Monday approved the merger of its wholly owned subsidiaries HDFC Investments and HDFC Holdings with HDFC Bank.
HDFC Bank in a bulk message to customers said as per RBI guidelines on e-Mandate on cards, the bank will decline non-compliant recurring transaction.
