HDFC Bank Ltd (HDFCBANK)

HDFC Bank Reports Strong Financial Results and Reduces Notice Period - 13 May, 2024

HDFC Bank reports strong financial results with a 37.05% jump in standalone net profit to Rs 16,511.85 crore in Q4 FY24. The bank also reduced its employee notice period from 90 days to 30 days. Banks have reported impressive deposit growth numbers over the last quarter.

HDFC Bank Stock Price Declines Despite High Net Profit; Reduces Notice Period for Employees - 11 May, 2024

Despite HDFC Bank's high net profit of ₹16,512 crore in the March quarter, its stock price has declined by 4.12% over the past week. Additionally, the bank has reduced the notice period for outgoing employees from 90 to 30 days.

HDFC Bank Underperforms Post-Merger - 10 May, 2024

HDFC Bank's underperformance relative to the benchmark continues after its long-serving leader's departure and merger announcement in April 2022. However, Q4 FY24 earnings suggest a normalization of numbers.

HDFC Bank Lags Amidst Political Uncertainty and Global Cues - 09 May, 2024

HDFC Bank faced a tough day in the stock market due to heavy foreign fund outflows, political uncertainty, and weak global cues. The RBI partially lifted its ban on card issuances, while the bank announced a dividend of 1950%. The bank also contributed to the decline of the Nifty Bank index.

HDFC Bank Faces Challenges Amidst New Norms; Announces Social Impact Entrepreneurship Grants - 08 May, 2024

HDFC Bank's stock fell after the RBI proposed new norms to tighten project financing, while CareEdge Ratings warns that operational infrastructure projects may face funding challenges. Meanwhile, HDFC Bank announced its Parivartan Start-up Grants programme for FY2024, providing support to social impact entrepreneurship.

HDFC Bank Keeps Rates Unchanged Amid Positive Outlook - 07 May, 2024

OmniScience Capital's Ashwini Shami is optimistic about HDFC Bank's growth prospects. The Government of Singapore has invested heavily in HDFC Bank. Meanwhile, HDFC Bank maintains its benchmark MCLR rates amid a positive outlook.

HDFC Bank's Chairman Reappointed, Writes Back Provisions - 06 May, 2024

The Reserve Bank of India has approved the reappointment of Atanu Chakraborty as HDFC Bank's part-time chairman. The bank also wrote back around Rs 200 crore on provisions made to its alternative investment funds.

HDFC Bank Announces Dividend; Housing Credit Outstanding Reaches Record High - 05 May, 2024

HDFC Bank announced a final dividend of Rs 19.50 per equity share with an ex-date of May 10. Meanwhile, credit outstanding to the housing sector reached a record high of Rs 27.23 lakh crore in March 2024.

Sensex and Nifty nosedive by over 1.3% due to heavy profit booking in index heavyweights - 04 May, 2024

Benchmark indices, BSE Sensex and NSE Nifty, took a quick U turn on Friday as they nosedived by over 1.3 per cent breaking down the three support levels as traders and speculators resorted to heavy profit booking in index heavyweights RIL, L&T, HDFC Bank, and Airtel, etc.

RBI Re-appoints Atanu Chakraborty as HDFC Bank Chairman - 03 May, 2024

The Reserve Bank of India has approved the reappointment of Atanu Chakraborty as part-time chairman of HDFC Bank for a period of three years. The bank also faced restrictions on its digital products and credit cards, leading to a decline in its valuation.

Mixed News for HDFC Bank - 02 May, 2024

HDFC Bank reports a decline in NIM, while SMC Global Securities advises investors to monitor its performance. The bank also faced restrictions on sourcing new credit card customers in 2020.

HDFC Bank's Total Income Grows by 117.62% in Q4FY24 - 01 May, 2024

HDFC Bank's total income grew by 117.62% from Rs. 57,158.84 Crores to Rs. 1,24,391.35 Crores in Q4FY24, accompanied by profits of Rs. 12,594.47 Crores to Rs. 17,622.38 Crores. The bank also constitutes 8.06% of Net Assets in the core equity of Parag Parikh Flexi Cap Fund.

HDFC Bank's Market Cap Gap with ICICI Bank Reduced to 41% - 30 Apr, 2024

After HDFC and HDFC Bank's merger, the bank's market cap was 82% higher than ICICI Bank. However, on Monday, this gap reduced to 41%, with HDFC valued at ₹11.49 lakh crore and ICICI Bank at ₹8.14 lakh crore. Analysts expect ICICI shares outperformance to continue in the near term though HDFCs valuations have turned cheaper.

Mixed Bag of News for HDFC Bank Ltd - 29 Apr, 2024

HDFC Bank reported a slight increase in net profit for Q4 FY24 while providing funding for a solar project. The bank was also rated as a BUY by HDFC Institutional Equities. However, valuations have trailed small-cap banks, and higher interest outgo has contracted NIMs YoY.

HDFC Bank Loses Key Figure and Sees Investment from Vanguard Fund Group - 28 Apr, 2024

Abhay Aima, a key figure in shaping HDFC Bank's growth, passed away suddenly at the age of 63. Meanwhile, Vanguard Fund group acquired a 1.17% stake in the bank as of March 2024.

HDFC Bank Launches New Campaigns and Extends Special FD Scheme Deadline - 27 Apr, 2024

HDFC Bank has extended its Senior Citizen Care Fixed Deposit scheme deadline and launched the Vigil Aunty Campaign. Paytm is also integrating with HDFC Bank along with other banks after NPCI's approval of OCL as a TPAP.

HDFC Bank Faces Regulatory Hurdles but Invests in Real Estate - 25 Apr, 2024

HDFC Bank faced regulatory hurdles such as suspension from onboarding new credit card customers and restrictions on digital launches, while also investing in real estate through its subsidiary HDFC Capital.

HDFC Bank Reports Strong Q4 Results and Credit Card Usage Rises - 24 Apr, 2024

HDFC Bank reports a surge in Q4FY24 net profit despite higher provisions and an increase in the use of its credit cards. Additionally, HDFC Capital Advisors has provided funding for a joint housing project platform.

Mixed Sentiments Surround HDFC Bank - 23 Apr, 2024

HDFC Bank is facing mixed sentiments as MUFG considers enhancing its $1.7 billion bid for the bank's consumer lending division while ICICI Securities recommends buying the stock. The bank reported in-line earnings but concerns remain regarding falling net interest margins. Shares have rebounded 12% from their 52-week low and are trading higher than some moving averages. BNP Paribas has a target price of Rs 2410, YES Securities has a target price of Rs 1850, and LKP Securities has assigned a price target of Rs 1756.

Mixed Day for HDFC Bank Shares Despite Bullish Brokerage Stances - 22 Apr, 2024

HDFC Bank reported a strong Q4 with improved deposit growth and margin management, but shares traded lower despite bullish recommendations from multiple brokerages. Motilal Oswal recommends buying with a target price of Rs 1,950.