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HDB Financial files for 1.5 billion dollar IPO led by HDFC Bank

HDB Financial, the non-banking financial company arm of HDFC Bank, has filed for a $1.5 billion IPO. HDFC Bank, which owns 94.6% of HDB, plans to sell shares worth up to Rs 10,000 crore, while HDB will issue fresh shares worth up to Rs 2,500 crore to meet capital requirements for lending. This marks the group's first public offering in six years, aligning with regulatory deadlines for listing larger NBFCs by September 2025.

Diwali 2024 stock picks include HDFC Bank and SpiceJet among favorites

Teji Mandi has selected HDFC Bank, Syngene International, and SpiceJet as top stock picks for the upcoming Diwali season, aligning with the investment strategies for Samvat 2081. These choices reflect analysts' confidence in these companies as promising investment opportunities.

Q2 2024 earnings season gains momentum with major companies reporting results

Major companies including Coal India, JSW Steel, DLF, and Interglobe Aviation are set to release their Q2 earnings reports today, joining a wave of firms that have already reported results. Notable performances include Reliance Industries with a profit decline of 4.8%, while HCL Technologies and TCS reported profit increases of 10.5% and 5.0%, respectively. ICRA's profit rose by 15.6% to Rs 36.72 crore, and Oracle Financial Services Software saw a significant profit increase of 38.4% to Rs 577.70 crore.

IndusInd Bank falls out of top ten most valuable lenders in India

IndusInd Bank has fallen out of the top 10 most valuable lenders in India after reporting a weak quarter characterized by increased provisions, declining other income, and slower growth in higher-yielding loans. The bank's stock plummeted 18% to a one-year low of Rs 1,065, resulting in a market capitalization drop to Rs 81,000 crore, placing it in 12th position. Meanwhile, HDFC Bank remains the most valuable lender with a market cap of Rs 13.25 lakh crore, followed by ICICI Bank and State Bank of India.

decline in shareholder numbers for yes bank and tata power

Yes Bank, Tata Power, and Reliance Power experienced significant declines in shareholder numbers, with Tata Power losing over 64,000, Yes Bank 54,000, and Reliance Power more than 47,000. In contrast, Tata Steel gained nearly 800,000 new investors, followed by Tata Motors with 700,000 and Vodafone Idea with 600,000. Other notable increases included IRFC (390,000), NHPC (260,000), and Jio Financial Services (55,000).

investors encouraged to consider hdfc bank amid recent stock consolidation

HDFC Bank, known for its consistent earnings growth, has seen a decline from 30% year-on-year growth to 20% in recent years, largely due to merger-related challenges affecting stock performance. However, the bank's strong track record suggests potential for positive earnings surprises in the next fiscal year, presenting an opportunity for investors to accumulate shares during the current price consolidation.

Nifty may face further 5 percent decline warns CLSA's Laurence Balanco

CLSA's Laurence Balanco anticipates a further 5% decline in the Nifty 50 index, potentially reaching the long-term support level of 23,389 by November. He advises investors to accumulate HDFC Bank shares, suggesting that if the stock remains above Rs 1,730, it could rise to Rs 2,500. Balanco notes that the Nifty has recently fallen 6% and may test the 200-DMA for the third time in 18 months.

Paytm receives NPCI approval to onboard new UPI users after restrictions

Paytm has received approval from the National Payments Corporation of India (NPCI) to onboard new UPI users, following earlier restrictions imposed by the Reserve Bank of India on its associate, Paytm Payments Bank Limited. The approval requires adherence to NPCI guidelines on risk management and customer data. To adapt, Paytm has partnered with Axis Bank, Yes Bank, SBI, and HDFC Bank for its payment services.

HDFC Bank targets growth with strong Q2 results and revised price estimate

HDFC Bank reported a Q2FY25 net interest income of INR 301,139 million, reflecting a 10% year-on-year growth. The net profit reached INR 168,210 million, up 5.3% YoY, driven by strong operating performance. KR Choksey has set a target price of INR 1,934 per share, maintaining an "ACCUMULATE" rating.
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