In Monday's early trade, the two frontline indices dropped 2 per cent each as IT major Infosys and banking giant HDFC Bank plunged sharply on disappointing Q4 performance
The Infosys ADR has declined over 9 per cent in the last two trading session in the US market, while our market was shut for trade, post Q4 results.
During Q4 of FY22, HDFC Bank added 563 branches while in the entire FY22, it added 734 branches, which is about two branches per day
The funds will be raised in the period of next 12 months through private placement mode, subject to approval of shareholders among others
The net interest income of the bank grew by 10.2 per cent to Rs 18,872.7 crore on the back of 20.8 per cent growth in advances.
HDFC Bank's non-interest income is expected to take a hit due to lower treasury income
Infosys is scheduled to announce results today, while HDFC Bank shall be reporting its Q4 numbers on Saturday.
In an investor presentation, the bank has made a case for inclusion in the MSCI and FTSE indices
According to the technical analyst from Anand Rathi, HDFC Bank is trading near multiple support area, hence the probability of the stock resuming its uptrend is high.
The lender's board will consider the proposal at a board meeting on April 16
JEE (Main) dates rescheduled to enable students across the country to prepare well for the exams, says National Testing Agency
The proposed merger of HDFC Bank and HDFC Ltd will moderately hurt the lender's profitability in the next 2-3 years, driven by higher funding costs to meet the regulatory liquidity norms, Moody's said
Shares of HDFC Bank and HDFC have fallen 6 per cent in the past two trading days
As the two HDFC elephants start their dance, they must be careful - not just of other banks, but of fintech rivals trying to set the tune for both lenders and borrowers.
On Monday, HDFC and HDFC Bank announced their boards had approved an all-stock amalgamation of the former into the latter, subject to regulatory approvals
Cost-wise, the housing loans would certainly come at a cheaper cost because the bank has low-cost deposits or Casa [current and savings account]
The merger of HDFC Bank and HDFC shall help the former become the most valuable bank outside of China and the United States
Analysts think there are multiple challenges such as impact of SLR/CRR/PSL compliance cost; the RBI's aversion to banks holding considerable stakes in para-banking businesses
Analysts say the RBI is unlikely to be comfortable with the size of the insurance operations the deal will give the bank
The merger is expected to be completed by Q2/Q3 of FY24