Bank Nifty up 2%; HDFC Bank, IndusInd Bank at record highs
Posted on 20th October 2014 |
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Gains in bank shares have lifted the Bank Nifty near its 52-week high on expectations of more reforms to push the economy on the growth track after Narendra Modi-led BJP emerged as the largest party in Maharashtra, the country's largest industrial State and is poised to form a government in Haryana after acquiring a majority. State-owned banks which led the Bank Nifty include PNB, SBI, Bank of India, Bank of Baroda and Canara Bank up 1.8-3.5% each. |
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Axis bank cuts base rate by 10 basis points; Stock up 1%
Posted on 17th October 2014 |
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Shares of India’s third-largest private sector lender, Axis Bank, are trading higher by 1% at Rs 389 on the BSE after it reduced its base rate by 10 basis points (bps) to 10.15 per cent on the back of a decline in cost of funds. The move comes despite the Reserve Bank of India (RBI) deciding to hold interest rates in the past four policy reviews, the last one being in September. |
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FIIs remain bullish on Infosys; hike stake in September quarter
Posted on 17th October 2014 |
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Foreign institutional investors (FIIs)’ stake in Infosys is nearing historic highs. During the quarter ended September, they bought 6.38 million Infosys shares for Rs 2,236 crore, raising their stake 1.1 per cent, data show. The number of FIIs holding stake in the company has risen from 912 at the end of June to 926 at the end of September. As of September-end 2013, 808 FIIs held stake in the company; the number stood at 778 a year earlier. Recently, the stock hit a lifetime high. Also, the company announced 1:1 bonus shares to shareholders, including those holding American depository receipts, after a gap of eight years. Life Insurance Corporation of India has increased its stake in Infosys from 3.82 per cent at the end of June to 4.45 per cent in September, acquiring 3.62 million shares (0.63 per cent stake) for Rs 1,270 crore. Retail investors, however, booked profits on every rise, with their holding in the company nearing a decadal low. Individual investors’ stake declined from 9.32 per cent in June to 9.06 per cent in September. |
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HDFC Bank's ADR premium falls
Posted on 13th October 2014 |
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Foreign investors are anticipating a long-pending nod from the Foreign Investment Promotion Board (FIPB) for an increase in foreign investment limit in HDFC Bank, going by the recent narrowing in premiums. The premium between HDFC Bank's American Depositary Receipts (ADRs) and its local shares have seen a sharp reduction in the past month. |
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Nifty slips below 7,900; HDFC, ITC drop over 2%
Posted on 10th October 2014 |
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Markets continued to trade weak weighed down by select index heavyweights even as Infosys helped offset some of the losses on the back of better-than-expected earnings. At 10:20AM, the 30-share Sensex was down 233 points at 26,404 and the 50-share Nifty was down 70 points at 7,891. |
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Sensex down over 100 points; Hindalco, HDFC top losers
Posted on 7th October 2014 |
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Benchmark indices continue to maintain the dismal trend weighed down by HDFC Group shares, ITC and metal stocks. At 11:45 AM, the 30-share Sensex was down 142 points at 26,426 and the 50-share Nifty was down 47 points at 7,898. Growth in services activity picked up pace in September as order books filled up at a faster rate, a business survey showed on Tuesday. |
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Rupee ends at near seven-month low
Posted on 30th September 2014 |
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The rupee ended at near a seven-month low due to increase in US economic growth which fuelled concerns that the US Fed may start raising interest rates sooner. The rupee ended at 61.53 to a dollar, compared with its previous close of 61.16. The rupee had ended at 61.76 on March 5. The US economy expanded at a 4.6 per cent annualised rate in the second quarter, the fastest since 2011, official data showed September 26 after the close of Indian markets. |
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Nifty below 8,100; HDFC Group shares slip
Posted on 22nd September 2014 |
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Benchmark shares indices continued to trade weak in late morning trades with HDFC Group and IT shares leading the decline. The weak showing is primarily reflecting the caution in Asian markets as investors apprehend evidence of further contraction in Chinese manufacturing to emerge, particularly if the flash manufacturing PMI data to be released on Tuesday is seen treading below 50 mark. |
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HDFC picks up stake in CL Educate
Posted on 20th September 2014 |
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New Delhi: Mortgage financier Housing Development Finance Corp. Ltd (HDFC) has bought an additional stake in education company CL Educate (formerly Career Launcher) for an undisclosed amount, the companies said on Friday. It had in 2011 bought a stake in Indus World School, a unit of CL Educate. The latest transaction brings HDFC to own stake in all the businesses of CL Educate, the holding firm that has presence in several education businesses, including coaching and skill development. |
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HDFC Bank to open 24 branches in Odisha
Posted on 8th September 2014 |
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Private sector lender HDFC Bank plans to open 24 new branches in the state by the end of this fiscal, said a bank official. "HDFC Bank is operating with 97 branches in the state at present. By the end of the financial year, there will be 121 branches in the state with addition of 24 new branches," Debashish Senapati, zonal head, Odisha, HDFC Bank, said at the launch of Secure Banking Programme. PK Jena, Regional Director, Reserve Bank of India, was present at the occasion. |
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