Maintain ‘buy’ on HDFC Bank with TP of Rs 2,454
Posted on 24th April 2018 |
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HDFC Bank’s Q4FY18 earnings sustained 20% YoY growth momentum but core operating profit growth was softer—up <25% versus 30% plus over the past couple of quarters. The miss was due to sharp moderation in loan growth (sub-20% YoY); surprising given better market opportunities in corporate segment (PSU fallout). Meanwhile, deposits grew a strong 13% QoQ, which along with capital raising will provide growth runway to the bank. |
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HDFC Bank share price target raised on strong Q4 results, what top brokerages say
Posted on 23rd April 2018 |
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HDFC Bank share price: After India’s leading private lender HDFC Bank reported record profits for Q4, brokerage firm CLSA has raised HDFC Bank share price target. The bank has reported a 20.27% on-year growth in net profit to Rs 4,799.28 crore, driven by stable asset quality. The bank had posted a net profit of Rs 3990.09 crore for the corresponding quarter last year. |
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HDFC Bank Q4 net profit rises 20% to Rs4,799 crore
Posted on 21st April 2018 |
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Mumbai: HDFC Bank Ltd on Saturday said its fourth quarter net profit rose 20.28% on the back of higher net interest income and other income. The bank posted a net profit Rs4,799.28 crore for the three months ended 31 March compared to Rs3,990.09 crore in the year-ago period. Profit was lower than Rs4,858.9 crore estimated by a Bloomberg poll of 22 analysts. |
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Markets snap 9-day winning streak on late selling, fall in banking stocks
Posted on 18th April 2018 |
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Stocks took a breather today after nine sessions of gains owing to a rush among investors to book profits towards the fag-end amid sustained foreign fund outflows even as global cues were positive.
The BSE Sensex, after resuming higher at 34,443.42, advanced to hit a high of 34,591.81 on buying by domestic institutional investors (DIIs) as well as retail participants. |
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HDFC hikes home loan rates after 5 years
Posted on 10th April 2018 |
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Largest mortgage player HDFC today upped its lending rates by up to 0.20 per cent, in line with similar moves by commercial banks. The increase in the Retail Prime Lending Rate (RPLR), on which it benchmarks the Adjustable Rate Home Loans (ARHL), is effective from April 1, an official statement said. |
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HDFC Bank removes iron spikes from Mumbai's Fort branch after facing ire
Posted on 27th March 2018 |
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Following the outrage over iron spikes installed on the pavement of an HDFC Bank branch in Mumbai, the bank on Tuesday removed them. "We sincerely regret the inconvenience caused to the public by the installation of the spikes at our Fort Branch, as part of the recent renovation. We're having the spikes removed on priority," the bank tweeted. |
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HDFC Bank prices 7-year masala bonds at 8.1 per cent
Posted on 16th March 2018 |
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HDFC Bank has priced its seven-year masala bonds at 8.1% to raise $350 million, investment bankers close to the deal told FE. A masala bond is a rupee-denominated bond issued in the overseas market. This is the first masala bond offering by HDFC Bank. The initial price target on the issue was at 8.15% which got compressed by five bps by the time of final pricing. “There were 40 plus investors in the issue consisting of asset managers, private banks, long-only funds etc. |
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HDFC Bank bans Bitcoin buys citing RBI's warnings: Traders not too worried
Posted on 14th March 2018 |
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Even as HDFC Bank, India's largest bank by market capitalisation, banned its customers from using debit, credit and prepaid cards to purchase cryptocurrencies such as Bitcoin, stakeholders in the crypto universe are not unduly bothered by the move. In an email sent out to customers on March 13, the bank noted that "the Reserve Bank of India has also cautioned the public regarding the potential economic, operational, legal and security related risks associated in dealing with such currencies". |
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HDFC Bank has picked arrangers for $2.4 billion share sale: Sources
Posted on 9th March 2018 |
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India’s HDFC Bank Ltd, the world’s most-expensive lender, has appointed arrangers including Bank of America Corp, Morgan Stanley and Credit Suisse Group AG for a Rs 155 billion ($2.38 billion) planned share sale, people with knowledge of the matter said. The lender has also appointed JPMorgan Chase & Co, Edelweiss Financial Services Ltd, IIFL Holdings Ltd and JM Financial Ltd for the offering, the people said asking not to be identified because the information is private. |
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