
India’s Best Financiers
In the end, consistency across parameters emerges as the hallmark of the best in the business.
In the end, consistency across parameters emerges as the hallmark of the best in the business.
The step-down subsidiary will be set up through HDFC Securities Limited for offering broking and clearing services in IFSC at GIFT City.
With market capitalisation of ₹4,83,680 crore, ICICI Bank has become the second-most valuable Indian bank after HDFC Bank.
The bank has always been in a league of its own, but the merger with HDFC and a revamped micro services tech stack will catapult it into a different orbit.
The BSE Sensex declined as much as 1,290 points to hit a low of 57,047 while the NSE Nifty fell as much as 347 points to 17,129.
The Sensex and Nifty are set to start the week on a bearish note, following weak cues from Asian peers and negative trends at SGX Nifty futures.
HDFC Bank Q4 results: The lender’s gross bad loan as a percentage of gross advances dropped to 1.17%, while net NPA ratio too fell to 0.32% in March quarter of 2022.
The fundraising plan will come up for discussion on April 16. The merger will create a large balance sheet and net worth that would allow a greater flow of credit into the economy.
Shares of HDFC jumped as much as 13% and HDFC Bank rose 10% after receiving board's nod to merge mortgage lender with the bank.
Shareholders of HDFC will receive 42 shares of HDFC Bank for 25 shares held in HDFC.