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Tag: HDFC

  • IT cos take the lead in robust Q3 present

    Written by ENS Economic Bureau | New Delhi |

    Updated: January 18, 2021 5:29:05 am

    Driven by beautiful numbers from IT majors, particularly TCS and Infosys, as additionally a very good set of outcomes from HDFC Bank, earnings from the early birds have been robust. Expenditure for the pattern of 61 corporations and banks rose at a a lot slower tempo than revenues leading to a giant soar in working revenue margins. India Inc had reduce prices sharply in Q1 and Q2 as income progress was very muted.

    Commentary from the managements at IT corporations publish the Q3 outcomes has been greater than encouraging; most imagine the deal pipeline will proceed to be robust and that they’re well-positioned to exploits segments like digital and cloud. Avenue Supermarts posted better-than-expected income progress of 10 per cent y-o-y on near-normal retailer operations and festive demand. FE

  • Seven of top-10 corporations add Rs 75,845 cr in cumulative m-cap; HDFC twins prime gainers

    Image Source : FILE PHOTO Seven of top-10 corporations add Rs 75,845 cr in cumulative m-cap; HDFC twins prime gainers
    Seven of the top-10 most valued home corporations collectively added Rs 75,845.46 crore in market valuation previously week, with HDFC twins rising as the most important gainers. Apart from HDFC duo, Tata Consultancy Services (TCS), Infosys, Kotak Mahindra Bank, ICICI Bank and Bajaj Finance have been different gainers, On the opposite hand, Reliance Industries Limited (RIL), Hindustan Unilever Limited and Bharti Airtel noticed erosion of their market valuation.

    The valuation of HDFC jumped by Rs 20,857.99 crore to Rs 4,62,586.41 crore and that of HDFC Bank zoomed by Rs 15,393.9 crore to succeed in Rs 7,84,758.50 crore. IT main Infosys’ m-cap rose by Rs 10,251.38 crore to Rs 5,36,878.45 crore.

    The market capitalisation of ICICI Bank gained Rs 9,609.3 crore to succeed in Rs 3,64,199.40 crore and that of TCS went up by Rs 7,410.96 crore to Rs 10,98,773.29 crore.

    Kotak Mahindra Bank added Rs 6,500.94 crore to take its m-cap to Rs 3,94,914.98 crore and Bajaj Finance gained Rs 5,820.99 crore to succeed in Rs 3,18,181.18 crore.

    In distinction, the market capitalisation of RIL declined by Rs 4,279.13 crore to Rs 12,59,741.96 crore and that of HUL dipped by Rs 2,948.69 crore to Rs 5,60,933.06 crore. Bharti Airtel’s valuation fell by Rs 1,063.83 crore to Rs 2,81,015.76 crore.

    The rating of top-10 corporations are RIL, TCS, HDFC Bank, HUL, Infosys, HDFC, Kotak Mahindra Bank, ICICI Bank, Bajaj Finance and Bharti Airtel.
    Last week, the BSE benchmark Sensex superior by 895.44 factors or 1.90 per cent.
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  • Former DEA Secretary Atanu Chakraborty more likely to be HDFC Bank chairman


    Atanu Chakraborty, former Economic Affairs Secretary, is more likely to be the following chairman of HDFC Bank. According to sources near the event, the financial institution has written to the Reserve Bank of India (RBI) recommending the identify of Chakraborty.
    Once accepted by RBI, Chakraborty — a 1985 batch IAS officer of the Gujarat Cadre — could take over because the part-time chairman of HDFC Bank in January. The tenure of its present part-time chairperson Shyamala Gopinath will finish on January 1.
    While HDFC Bank declined to remark, Chakraborty, informed The Indian Express stated, “I do not wish to comment on this matter as it is a communication between two different entities, the bank and RBI. I would like to say that I have not thought about it and as of now there is no job on my mind.”
    While Chakraborty retired because the Economic Affairs Secretary in April, the workplace memorandum of Department of Personnel and Training states that any Group A retired official is required to hunt the federal government’s approval if he takes a business employment inside one 12 months of retirement.

    When requested about the identical he stated, “I haven’t thought about any job as of now but there are certain standard rules for civil servants and I would follow them.”
    Earlier, on Monday, the financial institution knowledgeable the inventory exchanges that “the Board of Directors of HDFC Bank Ltd (“the Bank”) at its assembly held in the present day, has beneficial the appointment of the Part-Time Chairperson of the Bank and has submitted its suggestion to the Reserve Bank of India for approval below Section 35B of the Banking Regulation Act, 1949.”

  • RBI bars HDFC Bank from issuing new credit cards, halts digital launches

    The Reserve Bank of India (RBI) has imposed restrictions on the HDFC Bank following recent outages in internet and mobile banking.
    The banking regulator has also asked the private lender to halt all its digital launches under Digital 2.0 plan.

    “We wish to inform you that the Reserve Bank of India (RBI) has issued an Order dated December 02, 2020 (“Order”) to HDFC Bank Limited (the “Bank”) with regard to certain incidents of outages in the internet banking/ mobile banking/ payment utilities of the Bank over the past 2 years, including the recent outages in the Bank’s internet banking and payment system on November 21, 2020 due to a power failure in the primary data centre,” the private sector lender infored exchanges on Thursday.

    The bank said in a statement on Thursday that it has taken several measures to fortify its IT systems over the last two years and will continue to work swiftly to close out the balance. It will also continue to engage with the RBI in this regard.

    “The bank has been taking conscious, concrete steps to remedy the recent outages on its digital banking channels and assures its customers that it expects the current supervisory actions will have no impact on its existing credit cards, digital banking channels and existing operations,” it said.

    HDFC bank shares plunged on the stock markets after this news broke. Its shares tanked by 1% to an intraday low of 1388 from 1432 points.

  • Moto G 5G Launched Today! Know Price In India, Specs, Features

    The Moto G 5G is finally launched in the Indian market after a really long wait. Moto fans have been waiting for this smartphone as it is one of the highly-anticipated smartphones from Motorola. After the official launch in Europe earlier this month, experts believe the phone will be one of the most affordable 5G devices with several interesting features like 5000mAh battery, 6.7-inch display and more. So, many fans have been wondering about Moto G 5G price in India, specs and much more. If you have been wondering about the same, then do not worry, here is all you need to know about it.Motorola has launched its latest 5G smartphone in the Indian market today that is November 30, 2020. This smartphone comes with a Quad Rear camera setup and dual front camera. The Moto G 5G price in India for the 6 GB + 128 GB is ₹20,999, as per the details revealed during the launch. The Flipkart sale starts on December 7, 2020 and HDFC Bank card users can claim an additional Rs 1,000 discount on the purchase. It comes in Frosted Silver and Volcanic Grey colour options.