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9 mentions found


☆ India is said to be an 'oasis' in the desert. Here are some sectors to watch for
  + stars: | 2023-07-21 | by ( Charmaine Jacob | ) www.cnbc.com   time to read: +8 min
Major economies were hit by higher inflation during the Covid-19 pandemic, but India's inflation was already elevated. In June, India's inflation rate was 4.81%, which remains within the Reserve Bank of India's tolerance band of 2% to 6%. There is a paradigm shift and flight of capital from Indian households savings to equity to contribute to the India growth story," Azeez told CNBC's "Squawk Box Asia" last week. "So whichever way one looks at the economic numbers, India appears as an oasis in the global desert," he added. watch nowHowever, Matthew Asia's Mittal said that instead of buying into pharmaceutical companies, upstream companies such as Syngene will be a good investment opportunity.
Persons: Goldman Sachs, Darren Robb, Feroze Azeez, Anand, Azeez, CNBC's, Nifty, it'll, Soumya Rajan, Peeyush Mittal, Nilesh Shah, Shah, Financials, Rajan, Waterfield's Rajan, We've, we've, Hindenburg, Matthews, Mittal, India's, Nestle, Kotak's Shah, Punit Paranjpe, Matthew Asia's Mittal Organizations: Bank, Getty, Wealth, Reserve Bank, Monetary Fund, Waterfield, Matthews Asia, CNBC, Mahindra Asset Management, IDFC, IDFC Ltd, HDFC Bank, Housing Development Finance Corporation, India's HDFC Bank, ICICI Bank, Bajaj Finance, Mahindra Finance, Nestle, World Bank, Nurphoto, Hindustan Unilever, Britannia Industries, Manufacturing Global, Godrej Aerospace, Afp Locations: India, United Kingdom, Japan, Mumbai, China, Nestle India, LuLu, Lulu, Kerala
☆ India's IDFC First Bank says merger will boost credit growth
  + stars: | 2023-07-11 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +1 min
155 shares of IDFC First Bank will be alloted for 100 shares of IDFC according to an Indian media report. India's IDFC First Bank expects to see robust credit growth following its recent merger, according to managing director and CEO V. Vaidyanathan. Last week, IDFC First Bank said its board had approved its merger with IDFC Ltd. , the latest in a wave of consolidation in India's financial sector. "For India's credit market, let me say about a 15% credit growth would be a fair expectation in the near future. And for our bank, a 25% credit growth would be a fair expectation with stable asset quality."
Persons: India's, Vaidyanathan, CNBC's Organizations: IDFC, Bank, IDFC Ltd, HDFC Bank, Housing Development Finance Corporation Locations: Mumbai, India
☆ HDFC Bank director says Indian mega merger won't face 'insurmountable challenges'
  + stars: | 2023-07-04 | by ( Charmaine Jacob | ) www.cnbc.com   time to read: +3 min
In this article HDFC-INHDFCBANK-IN Follow your favorite stocks CREATE FREE ACCOUNTThe merger between HDFC Bank and HDFC now makes the entity the world's fourth largest bank. Nurphoto | Nurphoto | Getty ImagesThe merger between India's HDFC Bank and the Housing Development Finance Corporation (HDFC) will increase the entity's customer base and provide more opportunities for cross-selling, the non-executive director of HDFC Bank told CNBC. HDFC, India's largest mortgage lender, merged with HDFC Bank, the country's biggest private lender, in a $40 billion deal which took effect on July 1. HDFC Bank has around 83 million customers but only 2% have a housing loan with HDFC. HDFC Bank is currently India's second most valued company by market cap after Reliance Industries .
Persons: HDFC, Keki Mistry, Mistry Organizations: HDFC Bank, Nurphoto, India's HDFC Bank, Housing Development Finance Corporation, CNBC, HDFC, Mortgage, JPMorgan Chase, Industrial, Commercial Bank of China, Bank of America, Reliance Industries Locations: India, China, South East Asia
☆ India's HDFC Bank completes $40 billion takeover of the country's largest mortgage lender. Here’s what it means
  + stars: | 2023-07-03 | by ( Charmaine Jacob Joanna Tan | Charmaine Jacob | Joanna Tan | ) www.cnbc.com   time to read: +3 min
In this article HDFCBANK-IN Follow your favorite stocks CREATE FREE ACCOUNTA HDFC Bank branch in Mumbai, India, on Friday, April 14, 2023. Bloomberg | Bloomberg | Getty ImagesIndia's largest private lender HDFC Bank has completed its merger with Housing Development Finance Corporation , the country's biggest mortgage lender, in a deal that pits the new entity against the world's largest banks. HDFC shareholders will receive 42 shares of HDFC Bank for every 25 shares they own, and HDFC will cease operations on the Indian stock market on 13 July. In a presentation to HDFC investors, the mortgage lender outlined synergies including access to lower funding costs, operational efficiencies and a wider distribution network for HDFC. There will also be cross-selling opportunities as 70% of HDFC's customers do not have a banking account with HDFC Bank, according to the presentation.
Persons: Soumya Rajan, Nilesh Shah, HDFC, Rajan, Shah Organizations: Bloomberg, Getty, HDFC Bank, Housing Development Finance Corporation, JPMorgan Chase, Industrial, Commercial Bank of China, Bank of America, Waterfield Advisors, Mahindra Asset Management, Reliance Industries, CNBC Locations: Mumbai, India, HDFC
☆ Mega-merger gives Indian lender new lease on life
  + stars: | 2023-06-20 | by ( Shritama Bose | ) www.reuters.com   time to read: +4 min
HDFC Bank (HDBK.NS), the country’s largest private lender, is set in July to complete its merger with its parent, partner and 26% shareholder Housing Development Finance Corporation (HDFC) (HDFC.NS). That’s a great opportunity for the larger, streamlined HDFC Bank – until now it sold most home loans it originated to its parent. However, the share of mortgages in HDFC Bank’s portfolio will rise close to 30%, compared to SBI’s 20%. HDFC Bank remains a fixer-upper in a couple of important respects, though. Housing Development Finance Corporation created HDFC Bank in 1994 and remains a 26% shareholder.
Persons: Sashidhar Jagdishan, That’s, HDFC, Jagdishan, Breakingviews, Srinivasan Vaidyanathan, Antony Currie, Thomas Shum Organizations: Reuters, HDFC Bank, Housing Development Finance Corporation, –, Bank of India, Mahindra Bank, Reserve Bank of India, Thomson Locations: MUMBAI, Asia, China, United States, watchdogs, Credila
☆ Ambani’s finance listing will measure disruption
  + stars: | 2023-05-11 | by ( Shritama Bose | ) www.reuters.com   time to read: +3 min
Back in 2019 the boss of $200 billion Reliance Industries (RELI.NS) had pledged to spin out its giant retail and digital units. He has since lured big strategic and financial investors including Meta (META.O), Alphabet’s (GOOGL.O) Google and KKR (KKR.N)into those businesses. Jio Financial could be listed as soon as September. The entity will be renamed Jio Financial Services. Jio Financial will list as soon as September, a person familiar with the situation told Breakingviews.
☆ Financials bounce back from Friday's slide to lift Indian shares
  + stars: | 2023-05-08 | by ( Bharath Rajeswaran | ) www.reuters.com   time to read: +2 min
The Nifty 50 (.NSEI) was up 0.81% at 18,215.75 as of 10:04 a.m. IST, while the S&P BSE Sensex (.BSESN) rose 0.87%. Nifty Bank (.NSEBANK) and Nifty Private Bank (.NIFPVTBANK) also gained over 1%. On Monday, IndusInd Bank Ltd (INBK.NS) rose nearly 5% and was the top Nifty 50 gainer. Analysts expect the Nifty 50 to witness consolidation in the near-term with resistance seen near 18,200 levels. read more($1 = 81.7330 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.
☆ India's HDFC beats Q4 profit estimates on home loan demand
  + stars: | 2023-05-04 | by ( ) www.reuters.com   time to read: +2 min
HDFC said profit after tax rose to 44.26 billion rupees ($541.09 million) for the three months ended March 31, from 37 billion rupees a year earlier. Analysts, on average, had expected profit after tax of 38.86 billion rupees, according to Refinitiv IBES data. The lender said it provided individual loans worth 93.40 billion rupees during the quarter, compared with 83.67 billion rupees a year earlier. HDFC is on track to merge with India's largest private lender HDFC Bank Ltd (HDBK.NS). The RBI in April allowed HDFC and HDFC Bank selective regulatory relief in order to smooth out the merger between the two entities.
☆ India's HDFC is in fine shape for its big deal
  + stars: | 2023-04-17 | by ( ) www.reuters.com   time to read: +2 min
HDFC Bank’s (HDBK.NS) net interest income rose 20% year-on-year in the three months to March. The $116 billion financier’s mix of deposits points to some niggles. As interest rates rise, savers tend to move idle funds from low-yielding checking accounts to fixed deposits, where money is locked up for a specific period against juicier interest rates. For now, the hotly watched net interest margin, unchanged at 4.3% for the last nine months, is holding up. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
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