Explore Business Standard
HDFC Bank on Wednesday said its board in its meeting on July 19 will decide on issuing bonus shares and special interim dividend. Shares of HDFC Bank gained 1.33 per cent to touch a high of Rs 2,021.90 in the early morning trade after the company's announcement on BSE. Earlier on June 23, the bank had announced that its board will meet on July 19, Saturday, to consider and approve the financial results for the April-June quarter of the current fiscal. In a regulatory filing on Wednesday, HDFC Bank said its board would also consider the proposals of declaration of a special interim dividend on the equity shares of the bank, for the financial year 2025-26; and issue of bonus shares, subject to approval of shareholders of the bank. HDFC Bank Managing Director & CEO Sashidhar Jagdishan, in a message to shareholders in the annual report for FY25 had earlier this week said that the bank is confident of growing its advances on par with the industry in the current financial year and will .
HDFC Life Insurance on Wednesday said the insurer plans to raise Rs 1,000 crore through non convertible debentures to fund business growth. The decision to this effect was taken by the Capital Raising Committee (CRC) of the HDFC Life Insurance Board, the insurer said in a regulatory filing. The fund would be raised through unsecured, rated, listed, subordinated, redeemable, fully paid up, non cumulative, non convertible debentures (NCDs) for an aggregate nominal value of Rs 1,000 crore on a private placement basis, it said. The debenture of tenure 10 years would carry a coupon rate of 8.05 per cent per annum, it said. "The debentures proposed to be issued shall neither be secured nor covered by a guarantee of the company or other arrangements that legally or economically enhance the seniority of the claims as against the claims of the company's policyholders and all other creditors," it said. The debentures shall be listed on the WDM (Wholesale Debt Market) segment of the National
The combined market valuation of 6 of the top-10 most valued firms jumped Rs 1,97,734.77 crore last week, with ICICI Bank and HDFC Bank emerging as the biggest winners, in-line with optimistic trends in equities. Last week, the BSE benchmark jumped 1,653.37 points or 1.99 per cent. The BSE benchmark soared 1,359.51 points or 1.63 per cent to settle at an all-time high of 84,544.31 on Friday. During the day, it jumped 1,509.66 points or 1.81 per cent to hit the lifetime intra-day peak of 84,694.46. The valuation of ICICI Bank surged Rs 63,359.79 crore to Rs 9,44,226.88 crore, the most among the top-10 firms. HDFC Bank added Rs 58,569.52 crore taking its market valuation to Rs 13,28,605.29 crore. Bharti Airtel's valuation soared Rs 44,319.91 crore to Rs 9,74,810.11 crore. The market capitalisation (mcap) of Reliance Industries climbed Rs 19,384.07 crore to Rs 20,11,544.68 crore. Hindustan Unilever's valuation gained Rs 10,725.88 crore to Rs 7,00,084.21 crore and that of ITC went u