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HDFC Bank offloads CAMS shares worth Rs 270 crore via open market

Private sector lender HDFC Bank on Wednesday offloaded shares of Computer Age Management Services (CAMS) for Rs 270 crore through open market transactions. According to the bulk deal data available with the stock exchanges, HDFC Bank Ltd sold 5.29 lakh shares of CAMS on the National Stock Exchange (NSE) and disposed of 4.71 lakh shares of the company on the BSE. The shares were offloaded in the price range of Rs 2,700-2,700.08 apiece on the bourses, taking the combined transaction value to Rs 270 crore. Meanwhile, Fidelity Invst Trust picked up more than 2.82 lakh equity shares of CAMS on the BSE. Details of the buyers on the NSE could not be ascertained. On Wednesday, the scrip of CAMS fell 0.25 per cent to close at Rs 2,733 apiece on the NSE, while it slipped 0.24 per cent to settle at Rs 2,733.30 per piece on the BSE.

HDFC Bank Q3 results: Profit up 34% at Rs 16,373 crore, GNPA rises to 1.26%

Largest private sector lender HDFC Bank on Tuesday reported a 34 per cent jump in its standalone net profit to Rs 16,373 crore for the third quarter ended December 2023. The bank had earned a net profit of Rs 12,259 crore in the corresponding quarter of the previous fiscal year. Its total income on a standalone basis rose to Rs 81,720 crore in the October-December quarter of FY24 against Rs 51,208 crore in the year-ago period, HDFC Bank said in a regulatory filing. On a consolidated basis, the bank's profit increased 39 per cent to Rs 17,718 crore from Rs 12,735 crore. The consolidated total income rose to Rs 1,15,015 crore from Rs 54,123 crore at the end of the same quarter the previous year. On the asset quality side, the bank witnessed a marginal increase in gross non-performing assets (NPAs) to 1.26 per cent of the gross loans by the end of December 2023 from 1.23 per cent a year ago. However, its net NPAs came down to 0.31 per cent from 0.33 per cent at the end of the third

HDFC AMC PAT surges 32% to Rs 488 cr, income up 23% in Oct-Dec quarter

HDFC Asset Management Company Ltd (HDFC AMC) on Thursday reported a 32 per cent year-on-year jump in profit after tax (PAT) at Rs 488 crore for the three months ended December 2023. In comparison, the company had posted a PAT of Rs 369.16 crore in the year-ago period, HDFC AMC said in a regulatory filing. The company's total income surged 23 per cent year-on-year to Rs 814.17 crore in the October-December quarter of the current fiscal (FY24), from Rs 663 crore in the year-ago period. During the period ended December 31, 2023, the asset management firm paid a final dividend of Rs 48 per equity share (face value of Rs 5 each) for the year ended March 31, 2023. For the nine months ended December 31, 2023, the company clocked a PAT of Rs 1,402 crore and total income of Rs 2,312.14 crore. HDFC AMC is an investment manager for HDFC Mutual Fund, one of the largest mutual funds in the country. Shares of HDFC AMC were trading 2.30 per cent higher at Rs 3,496.25 on the BSE.

Q3 securitisation volume falls 17% to Rs 38,000 cr, but up 20% in 9 months

Securitisation volume has declined 17 per cent year-on-year to Rs 38,000 crore in Q3 from Rs 46,000 crore but grown 20 per cent to Rs 1.4 lakh crore during the first nine months of the current fiscal. However, analysts expect the volume recouping and closing the final quarter much higher. Rating agencies Crisil and Icra have, in separate reports, said the growth momentum will continue, given the positive regulatory changes, wider participation, and innovative structures nudging growth. The decline in the third quarter volume is primarily due to the exit of the largest player from the market as HDFC merged with its banking arm on July 1. Securitisation volume has declined to Rs 38,000 crore in Q3 from Rs 46,000 in the year-ago period. But the volume for the first three quarters rose to Rs 1.4 lakh crore, ratings agencies Icra and Crisil said in separate notes on Friday. According to this agency, the fall was primarily due to the Reserve Bank massively increasing the capital ...

Year Ender: 10 big events that shaped the Indian corporate world in 2023

From Hindenburg's report on the Adani Group to the signing of the biggest aircraft orders by Air India and Indigo, India saw several important corporate news in 2023. Here are the 10 most significant

HDFC Bank gets board nod for extension to Atanu Chakraborty as chairman

Country's biggest private sector lender HDFC Bank on Wednesday said its board has approved three years extension to Atanu Chakraborty as non-executive chairman. The board has recommended the re-appointment of Chakraborty as the part-time non-executive chairman and independent director of the bank to the Reserve Bank of India (RBI), for a second term of three years with effect from May 5, 2024 to May 4, 2027, HDFC Bank said in a regulatory filing. The re-appointment will be subject to the approval of the RBI and the shareholders of the bank, it said. He was appointed chairman of the bank in May 2024. Chakraborty, a 1985 batch IAS officer of Gujarat cadre, retired as Secretary of Department of Economic Affairs in April 2020. Prior to that, he was Secretary of Department of Investment and Public Asset Management (DIPAM). Both departments come under the finance ministry.

Deposits mobilisation overtakes credit in fortnight; credit up 16%

According to Reserve Bank of India data, sequentially, loans grew by Rs 1.28 trillion from Rs 148.52 trillion as on October 20, 2023

HDFC Hybrid Debt Fund: Delivering returns with an enhanced credit profile

Shobhit Mehrotra and Srinivasan Ramamurthy have been managing this fund since September 2007 and December 2021, respectively

HDFC Regalia credit card: Lounge access restricted, will depend on spend

Cardholders who spend Rs 1 lakh or more in a calendar quarter can avail of up to two complimentary lounge access vouchers as part of the quarterly milestone benefit.

Mixed show for AMCs in second quarter; limited scope for stock rally

From a stock performance perspective, analysts appear to be divided, with many anticipating only modest returns due to valuation concerns

A risky misstep: Prioritising near-term goals over retirement savings

Too many loans can diminish your ability to save; spending lavishly on children's weddings can also hurt

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.