Page 6 - Hdfc Group

Abrdn sells 2% stake in HDFC Life at Rs 574 a share, mops up Rs 2,469 cr

Societe General bought shares worth Rs 469 cr, Integrated Core Strategies bought shares worth Rs 287 cr and Norges Bank bought shares worth Rs 234 cr

HDFC Bank issues e-BG, AEBC appoints Sanjay Khanna as CEO, and more

This is a transformational change, and the Bank will migrate to eBG to benefit all its customers, the bank said

HDFC Bank opens first all-women branch in north Kerala's Kozhikode

Private sector bank major HDFC has opened its first all-women branch in north Kerala region in Kozhikode. The branch, located in Cherootty Road, the hub of traders in the district, will have 4 women bankers. This adds to all-women branches opened by the Bank in southern India and takes forward the bank's inherent values of diversity and inclusion, a statement said here. The branch was inaugurated by city Corporation Mayor Beena Philip at a function here on Wednesday. HDFC Bank is driving diversity and inclusion within the organization with a special focus on enhancing gender diversity, it said. As on March 31, 2022, women constituted 21.7 per cent of the workforce and the target is to increase it to 25 per cent by 2025, the statement said. Sanjeev Kumar, Branch Banking Head, South (Tamil Nadu, Puducherry & Kerala) said the opening of the all-women branch is yet another example of their efforts to take forward gender and diversity initiatives of the bank.

HDFC raises Rs 8.7k cr as 'social loan' to fund affordable housing segment

Mortgage lender HDFC Ltd on Friday said it has raised USD 1.1 billion (around Rs 8,700 crore) from a clutch of investors under 'Syndicated Social Loan Facility' to cater to affordable housing

Prashant Jain, MF industry's poster boy, quits HDFC AMC after 19-year stint

Jain, an alumnus of IIT Kanpur and IIM Bangalore, has been replaced by Chirag Setalvad

HDFC AMC reports 9% decline in profit to Rs 314 cr in June quarter

HDFC Asset Management Company (AMC) on Friday reported a 9 per cent decline in profit after tax at Rs 314.2 crore in the three months ended June 2022. In comparison, the asset management firm had posted a Profit After Tax (PAT) of Rs 345.4 crore in the year-ago period, HDFC AMC said in a regulatory filing. The company's revenue from operations rose 3 per cent to Rs 521.6 crore in the first quarter of FY23 from Rs 507.1 crore in the same quarter preceding fiscal. Its Average Asset Under Management (AAUM) stood at Rs 4.15 lakh crore for the June quarter. The same was Rs 4.17 lakh crore for the corresponding period last year. HDFC AMC, investment manager to HDFC Mutual Fund, has a diversified asset class mix across equity and fixed income/others. It also has a countrywide network of branches along with a diversified distribution network comprising banks, independent financial advisors and national distributors.

Insurance stocks: Analysts see decent upside in HDFC Life, ICICI Lombard

Though Q1 was disappointing, there are triggers that could lead to improvement in the performance of the two insurers

HDFC Life invests in 'Z3Partners Tech Fund' to aid digital entrepreneurs

Z3 Partners has already backed startups like Cyfirma, DealShare, Gramophone, Shipsy, and True-Fan

HDFC Bank to double network in 5 yrs; to add 1,500-2,000 branches annually

The bank proposes to nearly double its network of branches in the next three to five years by opening 1,500 to 2,000 branches every year: CEO Sashidhar Jagdishan.

HDFC invokes 50 lakh pledged shares of Ansal Housing for recovery of dues

The country's largest mortgage lender HDFC on Thursday said it has invoked 50 lakh pledged shares of Ansal Housing as part of recovery of its outstanding dues from the developer. Ansal Housing is engaged in the business of construction and development of residential townships and commercial complexes. "For the purpose of recovery of part outstanding dues against loans availed by certain pledgers/borrowers, the Corporation on June 15, 2022, invoked the pledge on 50,00,000 shares of Ansal Housing Ltd (Ansal) aggregating 8.42 per cent of its paid-up share capital, pledged with the Corporation by the said pledger/borrower," HDFC said in a regulatory filing. Ansal Housing's turnover in 2021-22 was Rs 204.40 crore, and the net worth was Rs 146.23 crore. Stock of HDFC closed at Rs 2,057.45 apiece on BSE, down by 2.28 per cent, while Ansal Housing rose 9.96 per cent to Rs 7.95.

Chris Wood rejigs India equity exposure; replaces HDFC with HDFC Bank

In the financial sector, Wood now holds SBI, Bajaj Finance, ICICI Prudential Life, ICICI Lombard and CAMS besides HDFC Bank in his India long-only equity portfolio.

HDFC, HDFC Bank, Bajaj Finance, Bajaj Finserv: Should you buy or sell them?

The Bajaj and HDFC twins can rally up to 8 per cent provided the stocks manage to sustain above the following key technical levels on the daily and weekly charts.

HDFC divests 10% stake in HDFC Capital Advisors to ADIA for Rs 184 cr

The country's largest mortgage lender HDFC Ltd on Thursday said it has sold 10 per cent of its stake in HDFC Capital Advisors Ltd (HCAL) to Abu Dhabi Investment Authority for Rs 184 crore. With this, HCAL ceases to be a wholly-owned subsidiary of HDFC. In April, Housing Development Finance Corporation (HDFC) had entered into a share purchase agreement for sale of 2,35,019 equity shares of HCAL, representing 10 per cent of paid-up share capital, to a wholly-owned subsidiary of Abu Dhabi Investment Authority. "We wish to inform you that the corporation has on May 25, 2022 concluded the sale, at a price of Rs 7,841.49 per equity share, aggregating to a consideration of Rs 184.29 crore," HDFC said in a regulatory filing. Pursuant to this sale, HCAL has ceased to be a wholly-owned subsidiary of HDFC. However, it continues to be a subsidiary of the corporation, it added. Stock of HDFC traded at Rs 2,282 apiece on BSE during noon trade, up by 1.99 per cent from previous close.

Stocks to Watch: Maruti, HDFC, SBI Cards, Tata Coffee, Wipro, Star Health

Stocks to Watch Today: Shares of Adani Wilmar, Jindal Stainless, Adani Enterprises, Hero MotoCorp, Tata Steel and Titan too shall be in focus ahead of the Q4 results.

Trading strategies for beaten down HDFC twins, bank stocks

HDFC twins, HDFC in particular, may see some more downward pressure; whereas PSU banks like SBI, Canara Bank and BoB can rally up to 9 per cent.

HDFC Bank Q4 net up 23% to Rs 10,055 crore due to lower provisions

The net interest income of the bank grew by 10.2 per cent to Rs 18,872.7 crore on the back of 20.8 per cent growth in advances.

Housing finance major HDFC pares 3% stake in Bandhan Bank for Rs 1,521 cr

According to bulk deal data available with the BSE, Housing Development Finance Corporation (HDFC) sold a total of 4,96,32,349 shares, amounting to 3.08 per cent stake, of Bandhan Bank

HDFC Bank, HDFC down for 2nd day in a row; dip up to 11% from Monday's high

Shares of HDFC Bank and HDFC have fallen 6 per cent in the past two trading days

HDFC Bank and mortgage lender HDFC Ltd to merge

The merger is expected to be completed by Q2/Q3 of FY24

HDFC Bank and mortgage lender HDFC Ltd to merge

The merger is expected to be completed by Q2/Q3 of FY24