Profitability could to take hit in the short run
"It will take about 15 to 18 months. We are quite hopeful that we will get the approvals from the regulators," Parekh said
Parekh said he is confident that the regulators will approve the merger scheme announced earlier in the day
The merged entity could become the highest weightage single company in the Nifty 50 basket, the brokerage house said.
Mirroring the rally in the stock, market capitalisation of HDFC zoomed to Rs 4,85,691.18 crore
CLOSING BELL: Besides, Kotak Bank, HUL, IndusInd Bank, Tata Steel, L&T, and Sun Pharma were the other top gainers
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
During the March quarter, there was no sale of investments in subsidiary/associate companies, as per the filing
Markets regulator Sebi on Wednesday disposed of a show cause notice that was issued to Housing Development & Finance Corporation (HDFC) with respect to alleged violations of share transfer agent norms. The watchdog had conducted an inspection of HDFC, which was registered with the regulator as Category II Registrar to an Issue and Share Transfer Agent, on September 30 to October 9, 2019, for the period April 1, 2018 to July 30, 2019. It was alleged that HDFC had violated certain provisions of listing obligations and disclosure requirements regulations and/or norms pertaining to Registrars to an Issue and Share Transfer Agents. Passing an order on Wednesday, Sebi's Adjudicating Officer Geetha G said that no monetary penalty is warranted in respect of the allegations levelled in the instant matter and disposed of the show cause notice that was issued in December 2021. According to the order, out of the allegations made in the show cause notice, the noticee (HDFC) was in violation of
After falling 537.11 points to a low of 56,825.09 in morning trade, the 30-share BSE barometer staged a recovery in afternoon trade and climbed 231.29 points or 0.40 per cent to settle at 57,593.49
The demand for housing loans is being driven by first time homeowners as well as by those who are looking to move up the property ladder.
Overall, India's rank is 120 on the world Sustainable Development Goals (SDG) index with Finland topping the tables
Reliance Industries' m-cap swelled by Rs 54,904.27 crore to Rs 16,77,447.33 crore last week.
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.
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.
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.
Among sectors, all the key indices ended in the red, led by the Nifty IT index (down 2 per cent) and the Nifty Realty index (down 1.7 per cent). Nifty Auto index was the only gainer, up 0.4 per cent.
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