New Delhi [India], Feb. 21 : After relentless debates have been underway discussing the impact of demonetisation, HDFC Bank Chairman Deepak Parekh on Tuesday stated that it is high time this discussion ended, while casting his vote in Mumbai today in the BMC polls.
Speaking to ANI outside the polling booth, Parekh revealed that demonetisation is a beneficial initiative and will have a positive outcome on the economy in the long run. "Demonetisation is just one out of the Government's many plans drafted towards the development of this country. It was necessary to eradicate black money and has come at the right stage in our country's economic growth," revealed Parekh.
New Delhi [India], Jan 18 : The market on Wednesday opened higher amid the global uncertainty. The Sensex traded up 71.48 points or 0.3 percent at 27307.14 and the Nifty traded up 22.40 points or 0.3 percent at 8420.40.
Shares such as Tata Motors, HDFc, Axis Bank, Cipla and Tata Steel are top gainers while Coal India, ICICI Bank, Bajaj Auto, Lupin and HUL are losers in the Sensex.
The Indian rupee opened marginally higher at 67.93 per dollar on Wednesday versus previous close of 67.95 against the US dollar. The dollar fell to a four-week low, moving lower against all group of 10 currencies with sterling leading the charge.
After a soothing speech on Brexit from British Prime Minister Theresa May triggered the pound's largest one-day percentage gain since 2008.
New Delhi: Private lender HDFC Bank today reported 20 percent jump in net profit at Rs 2,794.51 crore for the third quarter ended December 2014 on account of higher interest income.
The bank had reported a net profit of Rs 2,325.70 crore during the same period of last financial year, HDFC Bank said in a filing to stock exchanges.
Total income of the bank rose to Rs 14,930.74 crore during the October-December period of FY15 from Rs 12,738.95 crore in the corresponding quarter of last financial year.
Net non performing assets (NPAs) stood at 0.26 percent as compared to 0.3 percent a year ago, while gross NPAs were at 0.99 percent as against 1.01 percent a year ago.
Mumbai: Country's largest lender by market value HDFC Bank on Thursday raised Rs 9,880 crore in the largest share sale in the secondary market by a private entity to overseas and domestic investors through a mix of qualified institutional placement and American depository shares.
Merchant bankers said the issue has been successfully closed and the final pricing is expected shortly.
According to merchant bankers who include Barclays, JM Financial, Citi, JP Morgan and BofA-ML among others, said the bank opened the QIP issue first and the ADR was launched a few hours later.
The bank has plans to raise Rs 2,400 crore from QIP and the rest from ADRs, but sources said the composition got changed after the sale began.
New Delhi - HDFC Bank on Tuesday reported a 20 percent rise in its September quarter net profit to Rs 2,381.5 crore.
The bank had earned Rs 1982.32 crore net profit in July-September quarter of the last fiscal, HDFC said in a filing to the stock exchanges.
Bank's total income was at Rs 13,894.7 crore in Q2, up from Rs 11,937.7 crore in the same period last year.
HDFC said September-quarter provisions was up at Rs 455.9 crore as against Rs 385.9 crore in the corresponding period of previous fiscal.
New Delhi: The market valuation of top-five Indian companies fell by Rs 42,519.88 crore last week, with IT major TCS taking the biggest hit.
While TCS, ITC, CIL, HDFC Bank and Sun Pharma saw losses in their valuation, ONGC, RIL, Infosys, SBI and ICICI Bank made gains.
The market capitalisation (m-cap) of TCS plunged by Rs 18,911.52 crore to Rs 5,24,772.61 crore. ITC's m-cap tanked by Rs 8,691.94 crore to Rs 2,81,610.82 crore, while Sun Pharma lost Rs 8,626.15 crore to Rs 1,69,582 crore.
The valuation of CIL fell by Rs 6,000.55 crore to Rs 2,11,313.97 crore and HDFC Bank lost Rs 289.72 crore to Rs 2,09,309.66 crore.
New Delhi: Expanding its global footprint, HDFC Bank has opened a branch in Dubai to provide wealth management services to large Indian diaspora in the Gulf city.
This is the bank's third overseas branch after Bahrain and Hong Kong, the bank said in a statement.
In the United Arab Emirates, the second largest private lender has representative offices in Dubai and Abu Dhabi, and plans to continue running both of them, it said.
"The new branch at Dubai International Finance Centre (DIFC) will offer advisory services to NRIs regarding treasury products, trade finance, loans and other related services," it said.
Mumbai: Shares of Housing Development Finance Corporation Monday rose by 3 percent after the company reported 14.6 percent rise in its standalone net profit for the first quarter ended June 2014.
HDFC's shares ended 3.06 percent up at Rs 1,011.05 on the BSE. During the day, it gained 3.53 percent to Rs 1,015.75.
The stock was the top gainer among the 30-Sensex blue-chips.
Rise in the stock was instrumental in sending the BSE benchmark Sensex higher by 73.61 points at 25,715.17.
At the NSE, the stock rose by 2.21 percent to Rs 1,004.75.
Mumbai: Private sector lender HDFC Bank on Monday reported 21.1 percent growth in net profit to Rs 2,233 crore for the quarter ended June 2014.
The bank had earned a net profit of Rs 1,844 crore in the April-June quarter of 2013-14, HDFC Bank said in a statement.
The total income of the bank rose to Rs 13,070.65 crore during the quarter under review, against Rs 11,588.56 crore in the same period last year.
The net interest margin for the bank declined to 4.4 percent in the April-June quarter, against 4.6 percent in the same period of the previous year.
New Delhi: Dragged down by state-run ONGC, seven of the top 10 most valued Indian companies together lost Rs 67,233 crore in terms of market capitalisation last week.
Barring TCS, HDFC Bank and Infosys in the top 10 club, the rest seven, including the likes of RIL, ITC and Coal India, witnessed declines in their market valuation for the week ended Friday (June 13).
Energy major ONGC's M-cap plunged Rs 35,548.06 crore to Rs 3,61,426.68 crore, taking the steepest hit in the domestic market capitalisation (m-cap) chart.
Mumbai, May 6 : Mortgage lender Housing Development Finance Corporation (HDFC) Tuesday said its net profit increased by 10.79 percent to Rs. 1,723.10 crore for the quarter ended March 31, 2014.
The company had posted Rs. 1,555.21 crore profit in the like quarter of last year.
Total income of HDFC increased to Rs. 6,647.82 crore for the quarter under review as compared to Rs. 5,677.71 crore recorded in the corresponding quarter of 2012-13.
Mumbai, April 22 : India's second largest private sector lender HDFC Bank said Tuesday its net profit grew by 23.1 percent to Rs. 2,326.52 crore ($384.8 million) in the quarter ended March 31, 2014.
The bank had posted a net profit of Rs. 1,889.84 crore in the corresponding quarter of last year.
This is the slowest pace of growth in the bank's quarterly profit in more than a decade. However, the number is better than the markets estimates and it was reflected in the company's share price.
Assisted by higher growth in home loan business, private-sector mortgage lender HDFC reported a year-on-year increase of 12 per cent in its quarterly net profit.
HDFC said in a statement that its net profit jumped to Rs 12.8 billion in the three months ended December 31, 2013; from Rs 11.4 billion in the corresponding three-month period of the previous year.
Strong demand for homes and home loans has prompted Indian lenders to turn their attention to home loan business.
Banks are also taking refuse in home loans as sluggish growth of the economy during the past couple of years has led to a drastic decline in corporate lending.
While corporate loans slipped, demand for home loans remained persistently strong due to several factors, including urbanization, soaring incomes, trend of nuclear families.
Tight cost control allowed private sector lender HDFC Bank to report an impressive increase of 25.1 per cent in net profit for the October to December quarter of 2013.
The country's second biggest private sector lender on Friday reported a net profit of Rs 2,325.70 crore for the three months ended December 31, 2013, as against Rs 1,859.07 crore in the corresponding three-month period of 2012. Net profit for the nine months through December 31 jumped 27.2 per cent, from Rs 4836.44 crore to Rs 6,151.9 crore.
Shares of HDFC Bank gained nearly one per cent in morning trade on Wednesday, thanks to the bank's confirmation that it has filed an application with the Foreign Investment Promotion Board (FIPB) seeking permission for hiking foreign shareholding limit in the bank.
The application was filed in wake of the Reserve Bank of India's recent notification, in which it restricted FIIs from purchasing additional shares in the private sector bank as their shareholding had already exceeded the limit.
Chomu (Rajasthan), Oct 4 : "Izzat se dekhte hain (People look at us with honour)," said Bhagwati Meena, a beneficiary of an initiative of HDFC Bank in a village near this Rajasthan town Friday.
Women at Fatehpura village, who have availed of HDFC's Sustainable Livelihood Initiative (SLI), spoke of how they have become self-reliant and empowered. The village is about 15 km from Chomu.
HDFC Bank managing director Aditya Puri said the initiative "will substitute money lenders and sustain the unorganised sector".
HDFC Bank, India's second-largest private sector lender, on Wednesday reported an impressive year-on-year jump of 30 per cent in net profit for the April-June, thanks to strong loan growth and a sharp rise in other income.
The private sector lender said its net profit jumped from Rs 1,417.39 crore in the April-June quarter of 2012 to Rs 1,843.86 crore in the same quarter of 2013.
HDFC Chairman Deepak Parekh on Friday raised concerns over aggressive lending to real estate developers and cautioned home buyers against property developers' `too-good-to-be-true' offers.
Mr. Parekh also warned home buyers against schemes where property developers claim of paying interest on the borrowers' loans. He said that borrowers must not believe that developers' offers to pay interest on a borrower's loan for a specified period would be without a risk.
The reserve Bank of India (RBI) on Monday slapped three private sector banks, viz. Axis Bank, HDFC Bank and ICICI Bank, with hefty fines for violating know your customer (KYC) rules.
The central bank imposed a fine of Rs 5 crore on Axis Bank, and of Rs 4.5 crore and Rs 1 crore on HDFC Bank and ICICI Bank, respectively.
A statement released by the central bank stated, "After considering the facts of each case ... Reserve Bank came to conclusion that some of the violations were substantiated and warranted imposition of monetary penalty..."