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HDFC Securities looks to gain active clients with a new trading app

With the launch, the broker will be competing with low-price broking services with a flat pricing of Rs 20 per all intraday trades and delivery

We want to be No. 1 in affordable housing by FY26: Ravi Subramanian

RAVI SUBRAMANIAN, managing director and chief executive officer, feels that the sector is in a sweet spot, and capital will not be a constraint for the better-run players

HDFC shares fell after management indicates asset quality, margin pressure

HDFC Bank said the gross non-performing asset ratio has increased to 1.4% from 1 July, following the merger, as compared to 1.2% of HDFC Bank's as of end of the first quarter

Choosing to be non-executive HDFC chair my biggest challenge: Deepak Parekh

Veteran banker Deepak Parekh on Thursday said the biggest challenge for him was choosing to be a non-executive chairman of HDFC 13 years ago when he turned 65, a decision which he "still regrets, but is also happy about". In a fireside chat with BCG India Chairman Janmejaya Sinha on the third and final day of the Global Fintech Summit, Parekh also said that he has no such plans as he does not have the "thick skin to be a politician". He was responding to a query on whether he has any plans to enter politics. While mentioning about his decision to relinquish his position as the chairman in 2010, Parekh said the HDFC board as well as his family were against the move. "But I chose to do so because had I stayed on, it would have closed the door on my the next-in-line leadership to grow and move to the corner room in the Ramon House (HDFC headquarters in south Mumbai)," Parekh, now 78, said. "As a result, which I regret to some extent now, for the past 13 years ending June 30 this year

Indian insurers tweak trading strategy as bond-swap spread widens

FRAs are agreements that insurers enter into with banks to lock in rates on long-dated bonds, helping them offer guaranteed returns to policyholders

An inheritance issue, luxury at the movies: Top personal finance stories

What does the law say about the rights of children born of invalid marriages; how are multiplexes wooing viewers: Our newsletter explains

HDFC Bank signs MoU with StartupTN to foster entrepreneurship in Tamil Nadu

Private sector HDFC Bank has signed a memorandum of understanding with StartupTN to promote innovation and entrepreneurship in Tamil Nadu, the bank said on Thursday. Through the partnership, the bank aims to contribute significantly towards the growth and success of startups present in the state. StartupTN, is backed by the Tamil Nadu government and aims to nurture a vibrant startup ecosystem in Tamil Nadu resulting in innovation and entrepreneurship driven employment and economic growth. The agreement was signed between HDFC Bank Senior Vice-President and Circle Head, Coimbatore, Ilamurugu Karunakaran and StartupTN Mission Director and CEO Shivarajah Ramanathan during the Tamil Nadu Startup Thiruvizha 2023 held in Coimbatore recently. "In Tamil Nadu alone we have more than 6,000 Department for Promotion of Industry and Internal Trade recognised startups. StartupTN has done transformational work to support startups across stages in the state and we hope to leverage their network an

HDFC Bank wants to ride India consumer boom after home loan dominance

The Mumbai-based bank is converting about 530 offices that previously specialized in mortgages into ones with fully-fledged banking services in the coming months, said Kaizad Bharucha

HDFC MF pares 2.12% stake in Garden Reach Shipbuilders and Engineers

HDFC Mutual Fund (MF) has pared 2.12 per cent stake in Garden Reach Shipbuilders and Engineers (GRSE) between February 28 and August 17, held by its schemes. The MF, informing the bourses, said it held a 7.4 per cent stake in GRSE as on February 28, and this has come down to 5.28 per cent as on August 17. HDFC Balanced Advantage Fund is the MF scheme that holds a stake in GRSE. As on June 30, this scheme held a 6.04 per cent stake in the company, BSE data showed. On the other hand, foreign portfolio investors (FPIs) held a 3.11 per cent stake in GRSE as on June 30, 2023. The government holds 74.5 per cent of the city-based PSU. GRSE shares rose 28.53 per cent during the week to close at Rs 748.55 in NSE with a high volume of trading. Foreign Portfolio Investors hold 3.11 per cent in the PSU warship maker as on June 30. Other PSU port stocks like Mazgaon Dock and Cochin Shipyard also rose during the week.

Now there's greater diversity in way funds are managed at HDFC MF: Setalvad

Our size may be large but we are one of the smallest in terms of weighted average market cap, said Chirag Setalvad

HDFC Bank merger helped boost credit offtake to 19.7%: Care Ratings

The merger of HDFC with HDFC Bank has pushed credit offtake by an incremental 500 basis points to 19.7 per cent for the fortnight to July 28, excluding which the system-wide lending growth was only 14.7 per cent on-year, according to a report. The largest pure-play mortgage lender HDFC merged with its own banking subsidiary on July 1 in a record USD 40 billion all stocks merger, creating a banking behemoth with a balance sheet of over Rs 23 lakh crore. Credit offtake continued to show robust growth, increasing by 19.7 per cent on-year to reach Rs 148 lakh crore for the fortnight to July 28. This was primarily driven by the impact of the HDFC-HDFC Bank merger as well as growth in personal loans and loans to NBFCs, Care Ratings said in the report. If the merger impact is excluded, credit grew at a lower 14.7 per cent on-year for the fortnight, it noted. Deposits too witnessed healthy growth, increasing by 12.9 per cent for the fortnight, including the merger impact. Growth has not b

HDFC Bank CEO flags funding risk; says net interest margins to be hit

HDFC Bank chief Sashidhar Jagdishan on Friday flagged funding as a risk for the lender after the successful USD 40 billion amalgamation with its parent. "As you know, the risks of the merger is the funding part of it," Jagdishan told shareholders of the largest private sector lender at its maiden annual general meeting after the merger came into effect from July 1. It can be noted that the bank has not been fully successful in getting all the forbearance it had sought from the Reserve Bank of India (RBI) on the liabilities front. The RBI refused to provide any exemptions on Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) requirements on the deposits that come from HDFC, which was a deposit-taking entity. Additionally, questions were raised about the likely impact on HDFC Bank with respect to the RBI's move to put an incremental CRR of 10 per cent on deposit accretions in all the scheduled commercial banks after May. Jagdishan exuded confidence that the bank will be abl

CCI clears proposed acquisition of HDFC Credila Financial Services

Anti-trust regulator CCI on Tuesday cleared the proposed purchase of 90 per cent equity stake in HDFC Credila Financial Services by a private equity consortium of BPEA EQT and ChrysCapital. The buyers are Kopvoorn, part of the BPEA EQT group, and three ChrysCapital group entities -- Moss Investments, Infinity Partners and Defati Investments Holding. The proposed combination pertains to the acquisition by the acquirers of equity shares comprising about 90 per cent of the shareholding and voting rights of HDFC Credila, according to an official release. HDFC Credila Financial Services (HDFC Credila) is a Reserve Bank of India-registered non-banking financial company (NBFC) engaging in the business of providing retail education loans. The Competition Commission of India (CCI) said it has approved the proposed deal. In June, HDFC Ltd, HDFC Bank and HDFC Credila announced that they have entered into definitive agreements to sell a majority stake in HDFC Credila to a private equity ...

No slowdown in affordable housing space: PNB Housing Finance MD & CEO

In the short, medium, and long term, the demand is quite robust in the affordable housing segment, which is big and accounts for 32-35 per cent of the share in the mortgage industry

Stocks to watch: IndusInd Bank, Ashok Leyland, Patanjali Foods, Ircon, IOC

Stocks to watch on July 18, 2023: From Ashok Leyland to Tata Elxsi, check out the top stocks to watch in Tuesday's trading session

HDFC Bank Q1FY24 results: Net profit jumps 30% to Rs 11,952 crore

The bank's gross non-performing assets (GNPAs) rose slightly to 1.17 per cent in Q1FY24 as compared to 1.12 per cent in Q4FY23

HDFC Bank crosses $100 billion valuation, becomes world's 7th largest bank

On Monday, the bank's market capitalisation crossed $150 billion, making it bigger than Morgan Stanley, Goldman Sachs and Bank of China

LTI Mindtree replaces HDFC in benchmark Nifty; JSW Steel added to Sensex

Analysts said going ahead LTIMindtree and JSW might benefit as both the indices are popular benchmarks for ETFs

IT major LTIMindtree replaces HDFC on NSE's benchmark Nifty 50 index

LTIMindtree was formed after the merger of L&T Infotech (LTI) and Mindtree and commenced trading on the Indian stock market under its new name in December 2022

HDFC Bank to replace HDFC Ltd on MSCI Global indexes from July 13

Still, HDFC Bank's shares are up 2% so far this year, while HDFC's shares have gained 5%, but are both underperforming the blue-chip Nifty 50, which is up 6.8%