Page 10 - Hdfc

NCLT okays HDFC, HDFC Bank merger, paving way for creation of finance giant

HDFC Bank awaiting clarity from the RBI on forbearances as merger gets last regulatory approval

RBI imposes fine of Rs 5,00,000 on HDFC over transfer of deposits

Reacting to the penalty imposed by the central bank, HDFC Ltd said, it will take necessary steps to comply with the directions

RBI imposes Rs 500,000 fine on HDFC for non-compliance of provisions by NHB

The Reserve Bank of India on Friday said it has imposed a penalty of Rs 5 lakh on Housing Development Finance Corporation Limited (HDFC) for non-compliance with certain provisions issued by the National Housing Bank (NHB). Giving details, the Reserve Bank of India (RBI) said a statutory inspection of the company was conducted by NHB with reference to its financial position as on March 31, 2020. It was revealed, inter alia, that the company failed to transfer matured deposits of certain depositors to designated bank accounts of such depositors during the period 2019-20, the RBI said in a statement. In furtherance to the same, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for failure to comply with the directions, as stated therein. "After considering the company's reply to the notice, additional submissions made by it and oral submissions made during the personal hearing, RBI came to the conclusion that the charge of ...

Stocks to Watch: Power Grid, HDFC, Mahanagar Gas, Naukri, IEX, Zydus Life

Stocks to Watch: Mahanagar Gas has entered into a pact to acquire Unison Enviro, a subsidiary of Ashoka Buildcon, for Rs 531 crore

Top headlines: India Inc commits Rs 11.87 trn to AP, RBI fines Amazon Pay

Business Standard brings you top headlines at this hour

NCLT allows merger of HDFC's two subsidiaries with HDFC Capital Advisors

The National Company Law Tribunal (NCLT) on Friday gave its approval for the merger of HDFC Property Ventures and HDFC Venture Capital with HDFC Capital Advisors, taking the merger of the parent with HDFC Bank a step closer. The tribunal is yet to approve the merger of its two insurance arms and the asset management company as also the patent into the bank as part of the USD 40-billion reverse merger. In its final order, the NCLT sanctioned a composite scheme of amalgamation of HDFC Property Ventures and HDFC Venture Capital into HDFC Capital Advisors, HDFC said in an exchange filing. The amalgamation will result in simplification, streamlining and optimisation of the group structure and efficient administration, the order said. Early this week, the tribunal had reserved the order for its approval of the HDFC and HDFC Bank merger after the parties sought 180 days more for the process. HDFC has already received the required approvals from the Securities and Exchange Board, sharehol

Sensex sheds 502 pts, Nifty holds 17,300; Adani group stocks rise up to 5%

CLOSING BELL: The broader indices also outperformed, BSE Midcap and Smallcap indices were down up to 0.2 per cent as against the 0.8 per cent decline on the BSE benchmark.

Stocks to watch: HDFC Bank, NMDC, PVR, Lupin, Sunteck Realty, Tata Motors

Stocks to watch today: From HDFC to PVR, here are top stocks to watch in Thursday's trading session

IRCTC partners with HDFC Bank to launch co-branded travel credit card

Indian Railway Catering and Tourism Corporation Ltd (IRCTC) and HDFC Bank on Wednesday announced a partnership to launch a co-branded travel credit card. Known as the IRCTC HDFC Bank Credit Card, the co-branded card is in a single variant and is available on NPCI's Rupay network. This is the third tie-up of IRCTC after State Bank of India and Bank of Baroda. The card will provide exclusive benefits and maximum savings on bookings of train tickets booked through the IRCTC's ticketing website and through IRCTC Rail Connect app, HDFC Bank Group Head (Payments, Consumer Finance, Digital Banking and IT) Parag Rao told reporters here. Additionally, he said, IRCTC HDFC Bank Credit cardholders will enjoy an attractive joining bonus, discounts on bookings and access to the several executive lounges at railway stations across the country. Commenting on the association, IRCTC chairman and managing director Rajni Hasija said the co-branded card offers exclusive access to newly opened lounges

Stocks to watch: HDFC, Ambuja Cements, HAL, RailTel Corp, RPP Infra

Stocks to watch today: HDFC concluded sale of 10-year non-convertible debentures (NCDs) of Rs 25,000 crore; Ambuja Cements was selected as 'preferred bidder' for Uskalvagu limestone block in Odisha

Biggest corporate bond deal: HDFC raises Rs 25,000 crore via NCDs

ICICI, Axis, HDFC Bank, ICICI Securities Primary Dealership arranged the deal

HDFC prices its biggest ever rupee bond issuance; to raise Rs 25,000 crore

HDFC is stepping up borrowing from notes because its merger with HDFC Bank Ltd. will make accessing the bond market more difficult

HDFC launches bond sale worth Rs 25,000 cr to meet biz requirements

This will be one the largest ever debt sales by the firm; proceeds may be used to meet its financing or refinancing needs

HDFC Q3 net profit rises 13% to Rs 3,691 crore, impairments decline

Monetary policy, interest rate actions had short-term impact on net interest income, says mortgage major

HDFC Q3 profit jumps 13% YoY to Rs 3,691 crore, AUM grows 13% to Rs 7 trn

HDFC's Q3 net profit beat Street estimates which had pegged PAT around Rs 3,730 crore

Stocks to Watch: Adani Ent, Adani Green, HDFC, Maruti Suzuki, Insurance

Stocks to watch today: The Board of Adani Enterprises (AEL) has announced that it will not go-ahead with the fully subscribed Follow-on Public Offer (FPO)

Corporate India's new mantra for employees on leave: Do Not Disturb

Plan your own leave, unlimited paid vacation days, and multiple leave options are India Inc's attempt at respecting time off

HDFC to raise at least Rs 30 billion through issue of 10-year bonds

The issue will also have a greenshoe option to retain an additional 20 billion rupees and will close for subscription later this week

Private sector insurer HDFC Life expects margins to improve in Mar quarter

Leading private sector life insurer HDFC Life expects its margins to improve further in the fourth quarter, having already neutralised the hit it had taken from the merger of Exide Life three quarters earlier than expected. The company closed the December quarter with a new business premium margin of 26.8 per cent. Its FY22 VNB (value of new business) margin stood at 27.4 per cent and the management is confident of reaching there or making a further improvement as it closes the current fiscal. Over the weekend, HDFC Life reported a 15.2 per cent growth in net income at Rs 315.22 crore on a net premium income of Rs 14,379.38 crore, which rose 18.6 per cent annualised from Rs 12,124.36 crore. Its first-year premium stood at Rs 2,724.87 crore, up from Rs 2,115.97 crore, and the renewal premium soared to Rs 7,187 crore from Rs 5,543.03 crore. At 26.8 per cent, the VNB margin is already at the pre-merger level, neutralising the impact of the merger of Exide Life (in Q2 FY23) almost thre

HDFC to raise at least Rs 3000 cr via bonds; may invite bids next week

India's Housing Development Finance Corp (HDFC) will return to bond market after a gap of two months, three merchant bankers said on Friday