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[ad_1] The HDFC-HDFC Bank merger is the biggest in the history of India Inc. (File) Mumbai: The market regulator Sebi does not see any need for giving more time to mutual fund houses with large holdings in the merger-bound HDFC twins, to realign their portfolios post-merger since there's no material data and given the highly liquid nature of these stocks demanding such an extension. In the biggest merger in the history of India Inc, HDFC in April 2022 said it would merge with its own banking subsidiary in a $40-billion all-stock deal -- after 46 years of being a home loan financier and in between creating the country's largest private sector bank and four other financial sector brands in the insurance, AMC and brokerage businesses. And this Tuesday, HDFC chairman Deepak Parekh said the boards of the Corporation and HDFC Bank will meet on June 30 to finalise the last contours of the merger which is expected to be effective July 1. He has also said that would be the last mee...

[ad_1] The Nifty futures contract traded on the Singapore Exchange indicates a positive start to domestic equities. The contract was trading at 17,644.50, up 53.5 points or 0.30% from the previous close. ZEEL: Zee Enterprises’ managing director and chief executive Puneet Goenka on Thursday moved appellate tribunal NCLAT challenging the order of the National Company Law Tribunal which admitted an IndusInd Bank plea for insolvency proceedings against the firm. The share price fell over 10% intraday on Thursday, before paring losses to close 3.46% lower. Lemon Tree Hotels: The company approved acquisition of up to 22,00,000 Compulsorily Convertible Preference Shares of Aleur Hotels, APG Strategic Real Estate Pool N.V, existing shareholder. HDFC Bank: The private sector lender announced it raised $750 million through a dollar bond sale. The bank, acting through GIFT City IFSC Banking Unit completed the issue of $750 million Senior Unsecured Bonds. The notes are rated Baa3 by Moody’s ...

[ad_1] NEW DELHI: HDFC Bank on Thursday became the second most valuable company by market capitalisation, overtaking IT behemoth Tata Consultancy Services. At the close of trade, HDFC Bank, which recently completed the merger of its mortgage financier parent HDFC into itself, commanded a market capitalisation (mcap) of Rs 12,72,718.60 crore, which was Rs 5,826.95 crore more than TCS ' Rs 12,66,891.65 crore valuation on the BSE. Shares of HDFC Bank ended at Rs 1,688.50 apiece, up 0.22 per cent on the BSE. During the day, it climbed 0.36 per cent to Rs 1,690.95. However, shares of TCS dipped 0.25 per cent to end at Rs 3,462.35 each. During the day, it fell 1 per cent to Rs 3,436. HDFC, the parent of HDFC Bank, merged into the lender on July 1. The USD 40 billion merger, the largest such deal in the Indian corporate history, was driven by a changing regulatory landscape, which limited the advantages for HDFC continuing as a non-bank lending entity. Reliance Industries is the ...

[ad_1] Stocks to Watch on July 18 Stocks to watch: Shares of firms like IndusInd Bank, ICICI Pru, HDFC Bank, Patanjali Foods, IOC, and others will be in focus on Tuesday's trade. Stocks to Watch on July 18: Nifty futures traded 1.5 points, or 0.01 per cent, lower at 19,778, signaling that Dalal Street was headed for a muted start on Tuesday. Here’s a slew of stocks that will be in focus today for various reasons. Results today: IndusInd Bank, ICICI Prudential Life Insurance, ICICI Lombard, Polycab India, L&T Tech, CIE Automotive, TV18 Broadcast, Network18 Media, Heidelberg Cement, among others will report the April-June quarter results of fiscal year 2023-24 (Q1FY24). HDFC Bank: The private sector lender reported a rise in net profit of 30 per cent year-on-year (YoY) to Rs 11,952 crore in Q1FY24 on the back of steady loan growth and treasury gains. Net interest income for the quarter, meanwhile, grew 21.1 per cent YoY. LTIMindtree: The company registered 4.1 per cent Y...

[ad_1] NEW DELHI : The mega-merger of the HDFC Bank and its parent company the Housing And Development Finance Corporation (HDFC) was one of the biggest news from the banking sector recently. The merger has made HDFC the 4th largest bank in the world and brought the spotlight back on Hasmukh Thakordas Parekh – the man who was the pioneer of Housing Finance in India and founded the Housing Development Finance Corporation in 1977. HDFC – the brainchild of Hasmukh Thakordas Parekh – has since come a long way, overcoming several obstacles in the evolution from a fledging start-up to India’s leading provider of Housing Finance. For his invaluable contribution to the housing finance industry and the banking sector in India, Parekh was awarded the Padma Bhushan by the Government of India in 1992. The London School of Economics also conferred on him an honorary fellowship. Inspiring Story of Hasmukh Thakordas Parekh    cre Trending Stories Hasmukh Thakordas Parekh was born o...

[ad_1] Last Updated: July 17, 2023, 13:52 IST HDFC Bank Merger: HDFC Ltd, HDFC Bank on Monday joined the exclusive club of companies with a market capitalisation of $100 billion. This makes it the seventh-largest lender globally. Trading at a market value of about $151 billion or Rs 12.38 lakh crore, it is now the world’s seventh largest lender bigger than the likes of giants like Morgan Stanley and Bank of China. HDFC Bank is behind JPMorgan ($438 billion), Bank of America (232 bn), China’s ICBC ($224 bn), Agricultural Bank of China ($171 bn), Wells Fargo ($163 bn) and HSBC ($160 bn). The merger of HDFC Bank and its parent HDFC Ltd was completed on July 1. Today was the first day the bank’s stock started trading as a merged entity. On July 13, the shares of HDFC Ltd were taken off the bourses as July 12 was the record date for determining eligible shareholders for share allotment. On Friday, the bank allotted 3,11,03,96,492 new equity shares of face value Re 1 each to eligible s...

[ad_1] Stocks to watch out for on July 17 Stocks to watch: Shares of firms like HDFC Bank, Tata Steel, DMart, SBI, Bandhan Bank, ONGC, and others will be in focus on Monday's trade. Stocks to Watch on July 17:  Nifty futures traded 7.5 points, or 0.04 per cent, higher at 19,626.50, signaling that Dalal Street was headed for a flat start on Monday. Here’s a slew of stocks that will be in focus today for various reasons. Results today: HDFC Bank, LTIMindtree, Tata Elxsi, Crisil, Central Bank of India, Choice International, Hathway Cable, among others will report the April-June quarter results of fiscal year 2023-24 (Q1FY24). Tata Steel: The management said that the company plans to explore opportunities in the battery-minerals-related segment, including lithium through their Natural Resources division. This divison is one of the 14 companies listed as notified private exploration agencies by the Ministry of Mines. Angel One: The National Stock Exchange (NSE) has slapped Rs 1....

[ad_1] Last Updated: July 10, 2023, 08:28 IST Stocks To Watch July 10:  Nifty futures traded 14.5 points, or 0.07 per cent, lower at 19,443.50, signaling that Dalal Street was headed for a negative start on Monday. Here’s a slew of stocks that will be in focus today for various reasons. HDFC Bank: All MSCI indexes have replaced HDFC with HDFC Bank following the merger. Cyient DLM: The company’s shares will debut on the bourses today. It had fixed the final issue price at Rs 265 per share. Hindustan Zinc: Hindustan Zinc’s Board has approved an interim dividend of Rs 7 per equity share for the current financial year which will incur an expenditure of Rs 2957 crore for the Vedanta subsidiary. Zee Entertainment: The Securities and Appellate Tribunal (SAT) will on Monday pronounce its judgement on appeals filed by the promoters of Zee Entertainment Enterprises against an earlier Sebi order. SBI: The state-run bank is likely to raise up to Rs 10,000 crore in tier-I bonds this week....

[ad_1] On July 1, HDFC Ltd merged with HDFC Bank, creating the biggest private sector lender. New Delhi: Private sector lender HDFC Bank on Wednesday said it has registered a 15.8 per cent rise in loans to Rs 16,15,500 crore in the first quarter of current fiscal year. The credit book was Rs 13,95,000 crore as of June 30 last year. Gross transfers through inter-bank participation certificates and bills rediscounted, the bank's advances grew 20.2 per cent over June 30, 2022, HDFC Bank said in a regulatory filing. The bank's deposits aggregated to approximately Rs 19,13,000 crore as of June 30, 2023, a growth of around 19.2 per cent over Rs 16,05,000 crore as of June 30 last year, it added. During April-June 2022, the bank purchased loans aggregating Rs 11,632 crore through the direct assignment route under the home loan arrangement with parent Housing Development Finance Corporation (HDFC) Ltd, it said. On July 1, HDFC Ltd merged with HDFC Bank, creating the biggest private...

[ad_1] Last Updated: July 03, 2023, 08:21 IST Stocks to Watch on July 3:  The Nifty futures contract traded on the GIFT Nifty indicates a positive start to domestic equities. The contract was trading at 19,360, up 15 points or 0.08% from the previous close. HDFC, HDFC Bank Housing Development Finance Corporation and HDFC Bank boards announced the merger of the two entities, effective from July 1 following approval from shareholders and regulators. Adani Transmission In two bulk deals, GQG Partners acquired a total of 2.13 crore shares in Adani Transmission. The GQG Partners Emerging Markets Equity Fund purchased 72.59 lakh shares at a rate of Rs 786.19 per share, while the Goldman Sachs GQG Partners International Opportunities Fund bought 1.40 crore shares at the same price of Rs 786.19 per share. GHCL Shareholders of soda ash manufacturer GHCL have rejected a resolution to reappoint its chairman Sanjay Dalmia as a director of the company, with about 32% of the votes polled agains...