Thursday, February 25

Tag: HDFC Bank

SEBI imposes Rs 1 crore fine on HDFC Bank in BRH Wealth Kreators case
Business

SEBI imposes Rs 1 crore fine on HDFC Bank in BRH Wealth Kreators case

Stock market regulator SEBI has imposed a penalty of Rs one crore on HDFC Bank for invoking securities pledged by BRH Wealth Kreators in violation of the regulator's interim directions. Besides, the private sector lender has been directed to transfer Rs 158.68 crore along with 7 percent interest per annum into an escrow account till the issue of settlement of clients' securities is reconciled. "I find the invocation of the pledge of client securities available in the two Demat accounts of BRH by the notice (HDFC Bank) was not in conformity with the directions contained in the interim order," SEBI Whole Time Member G Mahalingam said in the order on Thursday. HDFC Bank has also been asked to keep the Reserve Bank of India informed about the order within a week. The order stems from non-c...
Indian shares trim weekly gains as HDFC Bank falls; Airtel jumps on MSCI review
Business

Indian shares trim weekly gains as HDFC Bank falls; Airtel jumps on MSCI review

 Indian shares edged lower on Friday, dragged down by index heavyweights HDFC Bank and Housing Development Finance Corp, while Bharti Airtel jumped after MSCI Global Standard Indexes said it would review the weight of the telecom operator’s stock. The blue-chip NSE Nifty 50 index fell 0.5% to 14,519, while the benchmark S&P BSE Sensex was down 0.36% at 49,407 by 0501 GMT. The Nifty index was on track for a third consecutive weekly gain, while the Sensex was poised for its eleventh straight weekly gain. Both indexes are up over 1% so far this week. Indian markets also mostly ignored the $1.9 trillion stimulus package proposal for the United States outlined by President-elect Joe Biden on Thursday. “Most of the news are getting priced in as the run up has been pretty large over the p...
HDFC Bank crosses $100 billion in market cap
Business

HDFC Bank crosses $100 billion in market cap

HDFC Bank Ltd on Thursday crossed the $100 billion market capitalisation, becoming only the third firm in the country to achieve this milestone. The lender is now in the league of Reliance Industries Ltd, which has a market cap of $140.74 billion, and Tata Consultancy Services that has a market cap of $114.60 billion. With this, HDFC Bank now ranks 110th in the world’s most valued companies. According to Bloomberg data, currently, there are 109 companies in the list which have market cap of over $100 billion. Among the most valued banks and financial companies around the world which have a market cap of over $100 billion, HDFC Bank ranks 26th. Investors continued to buy the stock on hope the lender would report consistent earnings performance, steady 20% profit growth, stable a...