HDFC Bank to raise Rs 4,500 cr through infrastructure bonds
Posted on 20th February 2015 |
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Mumbai: HDFC Bank Ltd will raise infrastructure bonds worth Rs.4,500 crore before the end of March, following up on its jumbo share sale earlier this month, as the bank braces itself to take advantage of increased lending opportunities to both companies as well as individuals over the next two fiscal years. In an interview on Thursday, HDFC Bank managing director Aditya Puri said the bank has armed itself with funds with an eye on improving growth prospects in India. |
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Sensex, Nifty extend gains led by financials; HDFC up 3%
Posted on 18th February 2015 |
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Benchmark indices have continued to trade firm led primarily by the gains in financials and select index heavyweight and IT stocks like ITC and TCS. At 2:12PM, the 30-share Sensex was up 218 points at 29,345 and the 50-share Nifty was up 62 points at 8,871. |
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HDFC Bank: waiting for loan growth
Posted on 16th February 2015 |
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In the December quarter, the story for HDFC Bank Ltd was not any different from those of other lenders when it came to loan growth. Despite rosy projections of a 7.5% economic growth in that quarter, credit demand lagged. HDFC Bank’s advances grew 17% from a year ago, the lowest in four quarters. While the bank’s focus on the retail customer has led this segment to account for 51% of its loan book, growth was faster in the corporate segment at 20%. But that is not exactly a reason to cheer because it was mostly working capital demand and loans to small and medium enterprises—a segment susceptible to bad loans. Even in the retail segment, unsecured loans such as personal loans and credit cards are growing at a robust pace, confirming that this is an environment with fewer growth opportunities for lenders. |
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HDFC Bank Q3 profit increases 20% to Rs 2,794 crore
Posted on 14th February 2015 |
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HDFC Bank on Saturday reported a 20% growth in net profit to Rs 2,794.5 crore for the quarter ended December 2014. The jump in profit is largely on account of higher Other Income and Net Interest Income (NII). NII, the difference between interest income and interest expenditure, grew 23% to Rs 5,699.9 crore, compared with Rs 4,634.8 crore in the third quarter of the previous financial year. |
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HDFC Bank raises Rs 9,840 cr from bullish investors
Posted on 6th February 2015 |
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HDFC Bank on Thursday raised Rs 9,840 crore by selling shares in the domestic market and offering 22 million American depository receipts (ADRs) in the US, opening the floodgates for other companies and banks to raise funds from investors keen to bet on the India growth story. For domestic investors, the shares were priced at the upper band of Rs 1,067 a share. The bank raised Rs 2,000 crore through a qualified institutional placement (QIP) and Rs 7,840 crore ($1.27 billion) from US-based investors. The ADRs were priced at $56.76 each. |
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HDFC Bank raises close to Rs 10,000 cr in ‘largest’ share sale
Posted on 5th February 2015 |
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Country’s largest lender by market value HDFC Bank today raised Rs 9,880 crore in the largest share sale in the secondary market by a private entity to overseas and domestic investors through a mix of qualified institutional placement and American depository shares. Merchant bankers said the issue has been successfully closed and the final pricing is expected shortly. |
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HDFC Bank $1.6 billion share sale likely this week
Posted on 3rd February 2015 |
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MUMBAI: HDFC Bank Ltd is expected to sell shares worth up to Rs 100 billion ($1.6 billion) as early as this week, with an offering that will include overseas and domestic stock, sources with direct knowledge of the matter said on Tuesday. India's largest lender by market capitalisation, which is also listed in New York, last week received government approval for the share sale on the condition that its foreign ownership should not exceed 74 per cent. |
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HDFC Bank's fund-raising
Posted on 2nd February 2015 |
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HDFC Bank is likely to raise Rs 10,000 crore on Tuesday. The private lender is said to have appointed Bank of America Merrill Lynch to manage the share sale. The bank is considering a part-American depository receipt (ADR) issue and part-qualified institutional placement. Fund raising through the ADR route would be a smart move, as these are trading at a 10 per cent premium to domestic shares. Also, the fund-raising regime through this route has recently been eased. |
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Buy rating on HDFC Bank, target Rs 1,255: Jefferies
Posted on 30th January 2015 |
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We maintain a ‘buy’ rating on HDFC Bank and raise price target to Rs 1,255 (earlier Rs 1,240). The stock trades at 5x adjusted book value (December 2014) and 21.4x 12-month rolling earnings (Dec 15). Our target implies a forward book multiple of 4.4x and 20.0x earnings versus last eight-year averages of 3.9x and 19.8x, respectively. |
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HDFC joins Rs 2-lakh crore m-cap club; hits new high
Posted on 21st January 2015 |
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Shares of Housing Development and Finance Corporation (HDFC) is continued their its upward march on the bourses, with the market value of the country's largest mortgage financier company crossing the Rs two lakh crore mark today. HDFC scrip gained 2.6% to Rs 1,284 on BSE, taking its market value to Rs 2,01,726 crore at 1041 hours, the BSE data shows. |
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