Shareholders of HDFC Ltd will receive 42 shares of HDFC Bank for 25 shares held
Profitability could to take hit in the short run
Shares of HDFC Bank may hit the Rs 2,000-mark, while HDFC is likely to rally towards Rs 3,200.
The HDFC Bank and HDFC Ltd. merger is expected to be completed by Q2/Q3 of FY24
The share exchange ratio for the amalgamation of HDFC with and into HDFC Bank shall be 42 equity shares of face value of Re 1 each of HDFC Bank for every 25 equity shares of face value of Rs 2 of HDFC
Reliance Industries added Rs 79,188.07 crore in valuation and Infosys gained Rs 9,404.12 crore.
Business Standard brings you the top headlines on Wednesday
Reliance Industries' m-cap swelled by Rs 54,904.27 crore to Rs 16,77,447.33 crore last week.
The stocks of HDFC and Bajaj Group are not showing any exciting picture on tech charts at the moment
At 11:53 am; Nifty Bank, Nifty Financial Services, Nifty PSU Bank and Nifty Private Bank indices were up 4 per cent, as compared to a 2.3 per cent rise in the Nifty50 index.
Given the high standing of the company, the pricing was fine at 7.18 per cent, said bond dealers, adding that initial indication was 7.25-7.30 per cent on the yield.
Nifty Auto, Nifty Realty, Nifty Bank, Nifty Private Bank, Nifty PSU Bank and Nifty Financial Services indices were down in the range of 4 per cent to 5 per cent on the NSE.
Apart from the 8 stocks among the Nifty50 index, a total of 26 stocks too dropped to their respective 52-week lows among the Nifty500 index.
The company had recently reported a 11 per cent jump in net profit at Rs 3,261 crore, on the back of higher income and lower-than-expected credit loss.
At 10:31 am; Nifty Bank, Nifty Financial Services, Nifty PSU Bank and Nifty Realty indices were up 1 per cent, against a 0.5 per cent gain in the benchmark Nifty50 index
HDFC, HDFC Bank, HDFC AMC and HDFC Life were underperforming the market by falling in the range of 3 per cent to 4 per as against a 1.7 per ent decline in the S&P BSE Sensex.
Adani Power, Barbeque Nation, Cadila, GAIL, Godrej Properties, HCC, ITC, JK Tyre, Kalyan Jewellers, Lupin, Mahindra Holidays, TBZ and Titan are some of the major companies to announce results today
Strong demand for home loans and improved collection efficiency augur well
Higher income and lower-than-expected credit loss cited for better show; NII up 7% to Rs 4,284 crore
Business Standard brings you the top headlines on Wednesday