Tag: HDFC Bank

HDFC Bank to raise Rs 50K cr via infra bonds, debt securities

HDFC Bank to raise Rs 50K cr via infra bonds, debt securities

21/04/2017 15:50

HDFC Bank said that it will raise up to Rs. 50,000 crore through debt securities and infrastructure bonds over the next 12 months.

In a filing to the BSE, HDFC Bank said the board has approved the issue of debt instruments, Tier II bonds and long-term infrastructure bonds worth up to Rs. 50,000 crore.

The securities would be issued on a private placement basis, it said, adding that the approval of shareholders for the issuance would be sought at the ensuing annual general meeting.

The bank further said that it will pay a dividend of Rs 11 on every equity share of Rs. 2 each out of its net profit for the financial year ended March 31, 2017.

HDFC Bank reported a net profit of Rs. 14,549 crore, a growth of 18.3 per cent in 2016-17 over the previous financial year.

The board has also approved the reappointment of Shyamala Gopinath as part-time non-executive chairperson of the bank for the period January 2, 2018, to June 19, 2019.

Gopinath had served as Deputy Governor at the Reserve Bank till June 2011 and handled key portfolios, including banking regulation, financial markets and exchange rate.

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Markets remain rangebound; HDFC, SBI shares advance

21/12/2016 10:14

The key domestic benchmark indices were trading in a positive terrain as rangeboud trade was witnessed in the morning trading session tracking firm cues from fellow Asian markets, but market volume remained thin as traders began to quiet down in the lead-up to Christmas.

Shares of Bharti Airtel will remain in focus after the telecom major said that its subsidiary Network i2i has inked pact with Egyptian firm Orascom to acquire the latter’s entire equity stake in Middle East North Africa Submarine Cable Systems (MENA-SCS).

At 10:10 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 26334.18 up by 26.2 points or by 0.1 per cent, while the NSE Nifty was at 8090.3 points, trading higher by 7.9 points or by 0.1 per cent.

The BSE Sensex touched an intraday high of 26394.14 and an intraday low of 26296.26 while the NSE Nifty touched an intraday high of 8112.55 and an intraday low of 8075.85.

The top gainers of the BSE Sensex pack were Housing Development Finance Corporation Ltd. (Rs. 1250.95,+1.04 per cent), State Bank of India (Rs. 256.40,+0.73 per cent), Asian Paints Ltd. (Rs. 875.00,+0.73 per cent), ICICI Bank Ltd. (Rs. 253.20,+0.64 per cent), NTPC Ltd. (Rs. 162.80,+0.62 per cent), among others.

Meanwhile, Tata Consultancy Services Ltd. (Rs. 2318.00,-0.84 per cent), Tata Motors Ltd. (Rs. 469.70,-0.66 per cent), GAIL (India) Ltd. (Rs. 425.90,-0.64 per cent), Dr. Reddy’s Laboratories Ltd. (Rs. 3030.05,-0.53 per cent), Hero MotoCorp Ltd. (Rs. 3040.95,-0.53 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 1918 shares traded, 1095 shares advanced, 720 shares declined while 103 were unchanged.

On the global front, Asian stocks were trading higher today following the record gains overnight on Wall Street as investors shrugged off geopolitical tensions mounting amidst terrorist attack on a Berlin Christmas market and the killing of the Russian ambassador toTurkey. US stocks closed higher in the previous trading session as investors continued to hope that the newly elected US President-elect Donald Trump would announce fiscal boost which will support riskier assets.

Mid Session: Markets remain rangebound; APSEZ, HDFC top gainers

07/12/2016 12:22

The key domestic benchmark indices were trading in a positive terrain in the late morning trading session in rangebound trade as participants raised bets for rate cut ahead of the RBI policy meet scheduled for later in the day amid positive cues from fellow Asian peers.

The market is expecting rate action by RBI due to low inflation data and expectations of a further strengthen in deflationary forces.

The market is anticipating 25 bps cut in interest rate, while some expecting a 50 bps reduction, to combat the on-going demonetisation shock with November inflation staying in a comfortable territory of around 4 per cent. Rate-sensitive stocks such as financial, auto and realty will remain in focus today. Also, buying momentum was witnessed mainly in the oil & gas and public sector undertaking sector stocks.

At 12:22 AM, the Bombay Stock Exchange bellwether Sensex was at 26434.81 up by 42.05 points or by 0.16 per cent, while the NSE Nifty was at 8162.45 points, trading higher by 19.3 points or by 0.24 per cent.

The BSE Sensex touched an intraday high of 26469.93 and an intraday low of 26408.77 while the NSE Nifty touched an intraday high of 8170.7 and an intraday low of 8149.9

The top gainers of the BSE Sensex pack were Adani Ports & Special Economic Zone Ltd. (Rs. 277.70,+2.08 per cent), Housing Development Finance Corporation Ltd. (Rs. 1265.00,+1.70 per cent), Tata Motors Ltd. (Rs. 446.40,+1.14 per cent), Hero MotoCorp Ltd. (Rs. 3232.80,+1.09 per cent), Mahindra & Mahindra Ltd. (Rs. 1186.00,+0.92 per cent), among others.

Meanwhile, Sun Pharmaceutical Industries Ltd. (Rs. 676.95,-4.11 per cent), Tata Consultancy Services Ltd. (Rs. 2169.80,-0.94 per cent), Lupin Ltd. (Rs. 1518.50,-0.62 per cent), Infosys Ltd. (Rs. 963.00,-0.41 per cent), Wipro Ltd. (Rs. 455.80,-0.39 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2537 shares traded, 1425 shares advanced, 956 shares declined while 156 were unchanged.

On the global front, Asian stocks were trading higher today as investors shrugged-off defeat of Italy’s constitutional referendum and shifted their focus to the upcoming policy meeting of the European Central Bank and also the US monetary policy due in December. US stocks closed higher in the previous trading session with the Dow Jones industrial hitting another record high as strong services sector data pointed to a strengthening economy.

Markets extend gains; GAIL, HDFC shares advance

06/12/2016 10:21

The key domestic benchmark indices were trading higher in the morning trading session as investors shrugged-off Italian Prime Minister Matteo Renzi’s resignation following defeat of Italy’s constitutional referendum.

The traders are expected to also keep an eye on RBI policy review which will be announced on Wednesday.

The investors may also react to India Services Purchasing Managers’ Index which slipped into contraction in November — worst slump in nearly three years — as new orders dried up and customers cut spending due to cash shortages, putting pressure on RBI to keep rates low.

At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 26441.96 up by 92.86 points or by 0.35 per cent, while the NSE Nifty was at 8169.65 points, trading higher by 40.9 points or by 0.50 per cent.

The BSE Sensex touched an intraday high of 26490.42 and an intraday low of 26393.99 while the NSE Nifty touched an intraday high of 8174.05 and an intraday low of 8148.5

The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 434.50,+1.72 per cent), Housing Development Finance Corporation Ltd. (Rs. 1238.50,+1.64 per cent), Infosys Ltd. (Rs. 975.25,+1.44 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 272.70,+1.28 per cent), Wipro Ltd. (Rs. 461.70,+1.15 per cent), among others.

Meanwhile, Asian Paints Ltd. (Rs. 929.15,-0.94 per cent), Hindustan Unilever Ltd. (Rs. 837.95,-0.93 per cent), ITC Ltd. (Rs. 230.45,-0.86 per cent), Axis Bank Ltd. (Rs. 457.95,-0.66 per cent), Tata Steel Ltd. (Rs. 412.60,-0.23 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 1994 shares traded, 1412 shares advanced, 492 shares declined while 90 were unchanged.

On the global front, Asian stocks were trading higher today as investors shrugged-off defeat of Italy’s constitutional referendum and shifted their focus to US monetary policy as stronger-than-expected jobs data boosting the case for the Federal Reserve interest rates hike later this month. US stocks closed higher in the previous trading session on strong economic data, led by financials and technology stocks, with the Dow Jones industrial hitting another record high as investors digested Italian Prime Minister Matteo Renzi’s resignation.

Markets extend losses; HDFC, ITC shares dip

02/12/2016 10:21

The key domestic benchmark indices were trading in a negative terrain in the morning trading session tracking weakness in fellow Asian peers after Wall Street ended in red in overnight trade ahead of US job data.

The investors are also expected to react to Manufacturing Purchasing Managers’ Index (PMI) which slumped in November as rupee demonetisation weighed on new work flows, buying activity and production.

The Nikkei Markit India Manufacturing Purchasing Managers’ Index (PMI) — a gauge of manufacturing performance — fell to 52.3, down from October’s 22-month high of 54.4. A reading above 50 in terms of manufacturing performance indicates expansion, while anything below it means contraction.

At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 26381.11 down by 178.81 points or by 0.67 per cent, while the NSE Nifty was at 8141 points, trading lower by 51.9 points or by 0.63 per cent.

The BSE Sensex touched an intraday high of 26445.52 and an intraday low of 26346.45 while the NSE Nifty touched an intraday high of 8154.15 and an intraday low of 8125

The top gainers of the BSE Sensex pack were Coal India Ltd. (Rs. 310.05,+1.17 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 294.15,+0.67 per cent), Reliance Industries Ltd. (Rs. 1003.50,+0.63 per cent), Cipla Ltd. (Rs. 569.75,+0.28 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 723.75,+0.27 per cent), among others.

Meanwhile, Housing Development Finance Corporation Ltd. (Rs. 1243.45,-2.09 per cent), ITC Ltd. (Rs. 228.60,-2.04 per cent), Dr. Reddy’s Laboratories Ltd. (Rs. 3188.95,-1.59 per cent), Larsen & Toubro Ltd. (Rs. 1368.05,-1.25 per cent), HDFC Bank Ltd. (Rs. 1181.35,-1.23 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 1986 shares traded, 663 shares advanced, 1256 shares declined while 67 were unchanged.

On the global front, Asian stocks were trading lower today with Hang Seng leading the decline as investors remained wary ahead of US job data. US stocks closed lower in the previous trading session as sharp sell-off across technology space dragged the Nasdaq and the S&P 500 indexes, while the Dow managed to end above baseline.

HDFC Bank allots 3727100 equity shares

HDFC Bank allots 3727100 equity shares

29/11/2016 12:53

Private-sector lender, HDFC Bank Ltd said that it has allotted 3727100 equity shares to the employees of the Bank pursuant to exercise of options under its Employees Stock Options Schemes (ESOS).

“The Bank has allotted on November 29, 2016, 3727100 equity shares to the employees of the Bank pursuant to exercise of options under its Employees Stock Options Schemes (ESOS),” it said in a filing to the Bombay Stock Exchange.

The paid up share capital of the Bank will accordingly increase from Rs. 5098540634 equity shares of Rs 2/- each to Rs. 5105994834 equity shares of Rs 2/- each.

Meanwhile, shares of the Bank were trading at Rs 1188.15 apiece, up 0.24 per cent from the previous close at 12:58 hours on BSE.

Demonetisation will help the economy in long run: Aditya Puri

Demonetisation will help the economy in long run: Aditya Puri

23/11/2016 15:31

HDFC Bank managing director Aditya Puri termed the demonetisation as a “necessity” which will benefit the economy in the long run by way of rate cuts, stopping counterfeiting and broadening the tax base, reported PTI.

“We, at HDFC Bank, feel this is a laudable objective which will provide benefits to the economy and people in the long run,” he said in a note to bank account holders.

He said the demonetisation exercise announced by Prime Minister Narendra Modi on November 8 is a “necessity” to root out counterfeit notes, which have a direct correlation with terror funding.

Stating that an effort is being made to ensure that people conduct their business in a fair and transparent manner, the veteran banker said a country cannot progress if less than 10 per cent of the population pays income tax.

It will also help root out corruption and bring down the cost of banking services, he said.

As part of the exercise, the government scrapped Rs 500 and Rs 1,000 banknotes from the midnight of November 9, and introduced new series of Rs 2,000 and Rs 500 notes. This has led to confusion and long queues to access own deposits.

With a large amount of the cash stuck in an unproductive manner earlier, Puri said it is “imperative” that the savings are used to boost investments.

“This will give banks the capacity to lend and also to bring interest rates down in order to spur investment and be competitive,” he said.

Citing a MasterCard study, Puri said that cash involves high costs of up to 1.5 per cent of the GDP on printing, transporting, storage and soiled notes, and a move to digital as is being witnessed in the fortnight since the move, will help not just the customers but also the economy.

While doing so, it is necessary to ensure that people in semi-urban and rural India also get the convenience of using the digital services, he said.

Puri also made an appeal for faster adaption of digital channels, saying this will help not just the bank but customers as well.

“It is necessary that we all understand that the country is moving towards reduced usage of cash,” he said, adding digital banking is a joint effort across all stakeholders.

Markets pare early gains; HDFC, Power Grid shares dip

23/11/2016 10:21

The key domestic benchmark indices were trading in a negative terrain in the morning trading session as volatility continued at the domestic bourses as traders roll over their positions ahead of tomorrow’s November futures & options (F&O).

Earlier, a positive trend across markets in Asia and a record finish at Wall Street overnight amid optimism that the US economy is strong enough to withstand a rise in interest rates by the Fed before the end of the year, had bolstered risk taking appetite.

Shares of PC Jeweller and Siemens will be in focus as these companies unveil their September quarter earnings.

The traders will also weigh the impact of the demonetization move which may chop off as much as 1 per cent from India’s full year 2016-17 GDP growth.

At 10:15 AM, the Bombay Stock Exchange bellwether Sensex was at 25948.72 down by 12.06 points or by 0.05 per cent, while the NSE Nifty was at 7991.8 points, trading lower by 10.5 points or by 0.13 per cent.

The BSE Sensex touched an intraday high of 26130.49 and an intraday low of 25892.21 while the the NSE Nifty touched an intraday high of 8055.2 and an intraday low of 7978.45

The top gainers of the BSE Sensex pack were Larsen & Toubro Ltd. (Rs. 1382.10,+3.98 per cent), Asian Paints Ltd. (Rs. 931.50,+2.66 per cent), Tata Steel Ltd. (Rs. 384.80,+1.80 per cent), Cipla Ltd. (Rs. 554.50,+0.86 per cent), Lupin Ltd. (Rs. 1424.00,+0.75 per cent), among others.

Meanwhile, Housing Development Finance Corporation Ltd. (Rs. 1217.20,-2.42 per cent), Power Grid Corporation of India Ltd. (Rs. 181.90,-1.20 per cent), Maruti Suzuki India Ltd. (Rs. 4884.00,-0.94 per cent), NTPC Ltd. (Rs. 152.75,-0.94 per cent), Wipro Ltd. (Rs. 445.90,-0.89 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 1990 shares traded, 1206 shares advanced, 695 shares declined while 89 were unchanged.

On the global front, Asian stocks were trading higher today as Donald Trump’s win in the US Presidential elections boosted sentiment by raising speculation that he would bolster fiscal spending which may lead to tighter monetary policy.US stocks closed higher in the previous trading after sales of existing homes climbed to the highest level since February 2007, up 2 per cent to a 5.60 million annual rate in October, signalling momentum in the US housing market recovery.

Markets extend losses; Tata Steel, HDFC Bank shares dip

25/10/2016 10:21

The key domestic benchmark indices were trading in a negative terrain in the morning trading session as investors resorted to a cautious approach ahead of a flurry of earning reports from major bluechips and amidst a mixed trend across markets in Asia as speculation that the US Federal Reserve may raise interest rates this year heightened, curbing risk taking appetite.

Volatility may remain high at the domestic bourses as traders roll over their positions ahead of Thursday’s October Futures & Options (F&O) expiry.

Shares of Adani Ports & Special Economic Zone, Axis Bank, Bharti Airtel, Dr Reddy’s Laboratories, HDFC Bank, IDFC Bank, IDBI Bank and Kotak Mahindra Bank will be in focus today as the companies unveil their September quarter earnings.

At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 28045.43 down by 133.65 points or by 0.47 per cent, while the NSE Nifty was at 8674.45 points, trading lower by 34.5 points or by 0.4 per cent.

The BSE Sensex touched an intraday high of 28211.41 and an intraday low of 28028.59 while the NSE Nifty touched an intraday high of 8722.65 and an intraday low of 8665.75

The top gainers of the BSE Sensex pack were ICICI Bank Ltd. (Rs. 287.90,+1.18 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 754.50,+0.98 per cent), Axis Bank Ltd. (Rs. 525.75,+0.85 per cent), Cipla Ltd. (Rs. 589.05,+0.68 per cent), Maruti Suzuki India Ltd. (Rs. 5748.00,+0.63 per cent), among others.

Meanwhile, Tata Steel Ltd. (Rs. 415.35,-2.55 per cent), HDFC Bank Ltd. (Rs. 1246.10,-1.53 per cent), Housing Development Finance Corporation Ltd. (Rs. 1331.20,-1.51 per cent), GAIL (India) Ltd. (Rs. 437.50,-1.43 per cent), Bharti Airtel Ltd. (Rs. 302.65,-1.26 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2266 shares traded, 902 shares advanced, 1232 shares declined while 132 were unchanged.

On the global front, Asian stocks were trading mixed today as latest US manufacturing data bolstered the case for monetary tightening in the near-term. US stocks closed higher in the previous trading session boosted by a flurry of deal making activity and encouraging earning reports.

Markets extend gains; Tata Steel, HDFC shares advance

18/10/2016 10:20

The key domestic benchmark indices were trading in a positive terrain in the morning trading session tracking a positive trend across markets in Asia as mixed US economic data eased fears over an imminent Federal Reserve interest rate hike, bolstering risk taking appetite. Slow and steady pace of US policy tightening may ensure continued capital flows into emerging markets such as India.

Marketmen will also be eyeing the crucial three-day meeting of the all-powerful GST Council, starting today, which will decide on the tax rate and sort out issues like compensation formula for rollout of the new indirect tax regime from April 1, 2017.

Shares of Havells India, Mastek and Hindustan Zinc will be in focus as the companies reveal their September quarter earnings. The Q2 earnings season has been off to a rather tepid start with IT bellwethers Infosys and TCS disappointing.

At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 27742.39 up by 212.42 points or by 0.77 per cent, while the NSE Nifty was at 8582.4 points, trading higher by 62 points or by 0.73 per cent.

The BSE Sensex touched an intraday high of 27761.37 and an intraday low of 27652.76 while the NSE Nifty touched an intraday high of 8586.7 and an intraday low of 8555.9

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 422.85,+2.96 per cent), Housing Development Finance Corporation Ltd. (Rs. 1326.95,+1.92 per cent), ICICI Bank Ltd. (Rs. 262.45,+1.51 per cent), ITC Ltd. (Rs. 243.65,+1.33 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 253.95,+1.22 per cent), among others.

Meanwhile, Asian Paints Ltd. (Rs. 1173.00,-0.84 per cent), Bharti Airtel Ltd. (Rs. 300.20,-0.35 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2219 shares traded, 1599 shares advanced, 512 shares declined while 108 were unchanged.

On the global front, Asian stocks were trading higher today on hopes that US monetary policy will continue to remain accommodative. US stocks closed lower in the previous trading session as investors assessed mixed US economic data and quarterly earnings from the likes of Bank of America.