HDFC, HDFC Bank say merger idea still premature
Posted on 22nd July 2014 |
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Amid speculation of a possible merger of Housing Development Finance Corporation (HDFC) and HDFC Bank, in which the former has 22.5 per cent stake, senior officials of both entities have termed such an idea premature. Speculation in this regard had gained momentum after the Reserve Bank of India (RBI) said banks didn't have to maintain cash reserve ratio (CRR) and statutory liquidity ratio (SLR) for funds raised through long-term bonds to fund infrastructure and affordable housing. The regulator also allowed banks exemption from meeting priority sector lending (PSL) targets on such funds. |
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HDFC Bank Q1 net up 21 percent, lags estimates
Posted on 21st July 2014 |
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HDFC Bank Ltd, India's second-biggest private sector lender by assets, reported on Monday a 21 percent rise in quarterly profit, lagging estimates, although asset quality remained stable. The Mumbai-based bank said net profit rose to Rs 2233 cr for its fiscal first quarter to end-June from Rs 1844 cr a year earlier. Analysts had on average forecast a net profit of Rs 2321 cr, according to Thomson Reuters data. |
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Sensex up 100 points; HDFC Bank up 1%
Posted on 21st July 2014 |
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The benchmark indices have erased some of its early gains with IT major Infosys and Tata Motors contributing nearly 36 points to the decline. The barometer index, Sensex is up 123 points at 25,765 and Nifty is up 34 points at 7,698 levels. |
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HDFC Property Fund raises $250 mn via offshore fund
Posted on 19th July 2014 |
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Bangalore/Mumbai: HDFC Property Fund, the private equity arm of Housing Development Finance Corp. Ltd, has raised $250 million (around Rs.1,500 crore today) through an offshore fund. It hopes to raise another $150 million by the end of the year, said a person directly familiar with the development who did not want to be named. On Friday, HDFC Property Fund informed the BSE that it had raised the capital through its second international fund, saying “the recently closed fund will focus on investing primarily in residential property developments in major cities across India”. |
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BSE Sensex up 225 points; SBI, Tata Power, HDFC Bank, ICICI Bank top gainers
Posted on 30th June 2014 |
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The benchmark BSE Sensex bounced back by 225 points in early trade on fresh buying in banking, capital goods, consumer durables, power and realty stocks on the back of higher Asian cues. Asian stocks firmed up ahead of a packed week of economic data that will test investor hopes for a pick-up in the US as well as the global economy. |
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HDFC Pension Fund back in NPS race
Posted on 28th June 2014 |
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After it successfully challenged an earlier rejection in court, HDFC Pension Fund Management Company, wholly owned subsidiary of HDFC Life Insurance, had its commercial bid considered on Friday for selection of fund managers in the National Pension System (NPS) for the private sector. The bid was opened on Friday and sources indicated it was among the top eight bidders, and would be required to match the lowest bid of one paisa for every Rs 100 of NPS funds. |
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Top five private Indian firms add fewest employees in three years
Posted on 27th June 2014 |
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Mumbai: The top-five private companies by market capitalization added 578,804 employees in the year ended 31 March, the fewest in 3 years, as companies focused on improving productivity of its existing employees amid a slowdown in the economy. Tata Consultancy Services Ltd (TCS), Reliance Industries Ltd (RIL), ITC Ltd, HDFC Bank Ltd and Infosys Ltd, saw their combined headcount rise 5% from the previous year, according to data collated from the annual reports of each of the companies. |
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Sebi issues fresh notice to HDFC Mutual Fund
Posted on 24th June 2014 |
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MUMBAI: The Securities and Exchange Board of India (Sebi) has issued a fresh show-cause notice to HDFC Mutual Fund, the country's largest asset management company, alleging front-running by a former employee. Four years ago, the capital markets regulator had banned HDFC Mutual's equities dealer Nilesh Kapadia from trading in the stock market after preliminary investigation revealed he had leaked information about the fund's trades to three market participants in advance. |
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Sensex, Nifty up over 1%, index heavyweights lead the rally
Posted on 24th June 2014 |
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Markets extended gains in noon deals with the benchmark indices at day highs, led by gains in realty, power and consumer durable companies. At 1400 hrs, the Sensex was up 377 points at 25,409 and the Nifty advanced nearly 100 points to trade at 7,590. |
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Private banks double headcount in 5 yrs
Posted on 18th June 2014 |
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The headcount in India’s top private banks is on the rise, despite a slowing economy and uncertain business environment. Large private banks in the country appear to be on a hiring spree, with many of them doubling their staff count in the last five years. ICICI Bank, the largest private sector lender in India, closed last financial year with 72,226 employees compared to 35,256 staff at the end of March 2010. HDFC Bank increased its headcount to 68,165 from 51,888, while Axis Bank almost doubled its number of employees to 42,420 during this period. |
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