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.
In Q2, HDFC Bank's retail loans grew by ₹33,800 cr; commercial, rural banking loans grew by ₹38,000 cr; corporate, other wholesale loans dipped by ₹13,300 cr over Q1
The highest-selling by mutual funds was observed in HDFC Bank, RIL, Apollo Hospitals and Infosys shares.
A monetary penalty of ₹1.91 crore has been imposed on Axis Bank for non-compliance with certain directions issued by RBI.
India’s weightage in the MSCI EM Index has surged from around 8% in 2020 to record 20% today, and is expected to touch 22% by year-end, says Nuvama.
10 out of 12 Nifty bank stocks were trading lower, barring Federal Bank and AU Small Finance Bank.
In the BSE Sensex pack, 11 out of 30 stocks ended in green on Budget day, led by Titan, ITC, Adani Ports, NTPC, and Infosys.
Bucking the trend, the BSE midcap and smallcap indices ended higher, rising 1.2%, and 0.8%, respectively.
Most brokerages have maintained ‘Buy’ ratings on HDFC Bank, projecting target price to be in the range of ₹1,850 to ₹2,000.
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.