HDFC Bank's board approves ₹12,500 cr IPO for HDB Financial; stock up 3% on steady Q2
HDB Financial Services is expected to raise ₹12,500 cr via IPO, including fresh equities worth ₹2,500 cr and OFS of shares worth ₹10,000 cr by parent HDFC Bank.
HDB Financial Services is expected to raise ₹12,500 cr via IPO, including fresh equities worth ₹2,500 cr and OFS of shares worth ₹10,000 cr by parent HDFC Bank.
State Bank of India reportedly plans to hire 10,000 new employees and open 600 branches during the current financial year to improve its operations.
In less than a month, State Bank of India raised a total of ₹15,000 crore through issuance of Tier-2 bonds in two equal tranches.
Axis Bank’s Q1 earnings missed estimates, due to higher credit costs as well as higher slippages, which pushed GNPA higher.
10 out of 12 Nifty bank stocks were trading lower, barring Federal Bank and AU Small Finance Bank.
Despite hiccups such as IL&FS crisis and increase in risk weights, non-banking financial companies continue to make their presence felt.
The combined profit of listed public and private sector banks surged 39% to ₹3.1 lakh crore in FY24, compared with ₹2.2 lakh crore in FY23.
The lender’s gross advances grew 52.6% YoY to ₹24.87 lakh crore in Q1 FY25, but dropped 0.8% QoQ; total deposits rose 24.4% YoY and flat QoQ to ₹23.79 lakh crore.
The share price of HDFC Bank rallied 3.5% to touch a fresh 52-week high of ₹1,791.90 on the BSE today.
The rally in Bank NIFTY was in line with benchmark indices, with the BSE Sensex and NSE Nifty touching their respective new highs today.