Mumbai: Shares of companies with higher foreign ownership have slumped of late as renewed outflows from overseas investors have put the spotlight on these stocks. With the deadline for foreign portfolio investors (FPIs) to comply with the beneficial ownership norms around the corner, analysts said sentiment in several such stocks is jittery.HDFC Bank, with a … Read more
Half a dozen banks reported higher quarterly net profit Saturday, as growth in retail loans, increased non-interest income and a fall in provisions more than offset the impact of increasing cost of funds that weighed on their net interest margins (NIMs). ICICI Bank, the largest of the six lenders, reported a 24% rise in net … Read more
Sensex nosedived 1,628 points on Wednesday, marking its biggest single-day slide in more than one-and-a-half years following an intense sell-off in banking, metal and oil shares. The Nifty tanked 460 points to settle at 21,571. Stocks that were in focus included names like HDFC Bank, which fell 8.16%, TV18 Broadcast, which rose 7.58%, and SAIL, … Read more
Mumbai: HDFC Bank shares slumped 8.4% on Wednesday – its biggest single-day drop since March 2020 – as concerns over the bank’s future profitability triggered a sharp sell-off. The private lender’s third-quarter results were in line with analyst estimates, but Dalal Street focused on the likely pressure on net interest margins (NIMs) – the difference … Read more
Not everyone on the Street is a bear on HDFC Bank, whose shares fell up to 9% on Wednesday after reporting mixed numbers in its December quarter results. Global brokerage firm CLSA has hiked its target price on HDFC Bank to Rs 2,025 from Rs 1,900, Axis Securities to Rs 1,975 from Rs 1,800 while … Read more
India’s largest lender and index heavyweight HDFC Bank engineered a 4.7% or 2,145 points fall in Nifty Bank which was its worst decline since March 2022. The stock fell 8.91% intraday, recording its biggest decline in percentage terms since May 20, 2020, when it had tanked 7.86%. All the 12 Nifty Bank constituents were trading … Read more
Brokerage firm Morgan Stanley maintained an underweight rating on L&T Technologies, Nuvama downgraded HDFC Bank post Q3 results, and an overweight rating on ICICI Lombard. UBS maintained a buy rating on GAIL India. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Morgan Stanley on L&T Technology Services: … Read more
Mumbai: HDFC Bank, India’s biggest by market value, kicked off third-quarter earnings for banks with a 34% on-year rise in net profit, underpinned by strong growth in retail loans and fee incomes. The bank, which merged its mortgage-lending parent into itself last year, is focused on mobilising deposits that have lately trailed credit growth. Bank … Read more
Mumbai: Public sector banks are rushing to issue bonds in the coming weeks, capitalising on lower government bond yields that have made borrowing cheaper while tight liquidity and robust credit growth are spurring lenders’ demand for funds to meet loan needs. State Bank of India is set to kick off domestic bond issuances for 2024 … Read more
Various widely tracked companies like Reliance Industries, Jio Financial Services, HDFC Bank, Asian Paints, LTIMindtree, IndusInd Bank, Polycab India, HUL, UltraTech Cement, ICICI Bank, and Kotak Mahindra Bank will be releasing their December quarter report cards this week. Here’s a list: January 15Jio Financial Services, Angel One, PCBL, Choice, International, Kesoram Industries, Fedbank Financial Services, … Read more
