HDFC Bank

Citigroup sells its stake in HDFC

Citigroup sells its stake in HDFCGlobal banking giant, Citigroup has decided to sell its stake in Housing Development Finance Corp. for 95.5 billion rupees or about $1.9 billion.

Citigroup sold 145.3 million shares at the rate of Rs. 657.56 per share, the company said in a statement. The price level is at 6.2 percent discount to the HDFC’s closing price. The sale resulted in an income of $1.1 billion for Citigroup before accounting for taxes.


Buy HDFC Bank on Declines, says Hemant Thukral of Aditya Birla Money

Buy HDFC Bank on Declines, says Hemant Thukral of Aditya Birla MoneyStock market expert Hemant Thukral from Aditya Birla Money has suggested buy call for HDFC Bank on decline. There has been good activity in some mid cap PSU banks in recent times. Some banks have given good returns in year 2012. However, Hemant Thukral is bearish on smaller PSU banks.

He expects HDFC Bank and ICICI Bank to perform better and suggests buy call for HDFC Bank on decline.

Technical expert Sudarshan Sukhani of s2analytics.com has suggested buy call for BPCL. BPCL is currently trading at Rs 650.


HDFC records 31.4% rise in net profits

HDFC records 31.4% rise in net profitsHDFC Bank has recorded a rise of more than 31.4 per cent in the third quarter year-on-year to Rs 1,430 crore backed by high growth in loans.

Net interest income for the country’s second largest private sector lender increased about 13 per cent Rs 2,945 crore compared to the same period previous year. The rise in net profit was a bit higher than expected rate of 28.5%.


HDFC records a 20 per cent rise in net profits

HDFC records a 20 per cent rise in net profits HDFC has posted an increase in net profit of 20 percent in the second quarter backed by increased income from operations and profit on sale of investments for the firm.

The country's largest mortgage lender said that its net profit increased to 9.71 billion rupees from 8.08 billion int eh year ago period and its Income from operations rose to 40.77 billion rupees from 29.07 billion rupees in the second quarter last year.


ICICI and HDFC to Offer Teaser Loans, Others Back Out

ICICI and HDFC to Offer Teaser Loans, Others Back OutThough Indian private banks like ICICI and HDFC favored the policy of dual interest rate housing loans, other banks are unlikely to go the same direction.

Perhaps the reason lies in the fact that there are many provisioning requirements which could pose a huge roadblock for banks, though ICICI and HDFC think otherwise.

Even the largest lender, SBI, had withdrawn its hands from the loan scheme, post acknowledging the same.


HDFC Books Quarterly Profit of Rs 1,085

HDFC Books Quarterly Profit of Rs 1,085It has been reported that for the quarter ended on June 30, 2011, HDFC Bank booked a profit of Rs 1,085 which was just Rs 812 crore for the last year’s quarter. Mr. Paresh Sukthankar, Executive Director, HDFC Bank told that the stronger demand for working capital loan boosted the profit of the bank. He further said that the bank is expecting credit growth to increase by 4 to 5%.


HDFC Witnesses an Overall Gain in the First Quarter Till June 2011

HDFC Witnesses an Overall Gain in the First Quarter Till June 2011The Bombay Stock Exchange showed HDFC bank at a growth by 33.7% in the revenue amounting to Rs 1,085 crore, in the first three months of the financial year up to June 2011. The total profit earned by June 2010, amounted to Rs 811 crore.

The income generated by the bank by the end of June 2011, increased to an amount of Rs 7,098 crore, which was 5,410 crore in the same period last year, an increase of 31.2%. The balance sheet of this year grew by 22.6%, amounting to Rs 2, 85,942 crore at the end of June.


HDFC Plans to Launch IPO within Two Years

HDFC Plans to Launch IPO within Two YearsThe Chairman of Housing Development Finance Corporation (HDFC), Deepak Parekh announced about introducing an initial public offering (IPO) for its insurance department within a period of two years, at the annual general meeting (AGM).

As per Mr. Parekh, the rules of the Insurance Regulatory and Development Authority (IRDA) granted the insurers to have an IPO without three years profitability clause, the authorities will discuss about the scheme with their partners Standard Life.


HDFC quarterly net profit up 23.27 percent

HDFCMumbai, May 10 : Housing finance major HDFC Tuesday reported a 23.27 percent rise in net profit for the quarter ended March 31 at Rs. 1,141.95 crore compared to Rs. 926.3 crore in the year-ago period.

Total income went up 30.5 percent to Rs. 3,784.8 crore for the quarter under review, according to a company statement.

For the whole of 2010-11, the net profit rose 25 percent to Rs. 3,534.96 crore compared to Rs. 2,826.49 crore for the year ended March 31, 2010.


Buy HDFC Bank To Achieve Target Of Rs 2393

Buy HDFC Bank To Achieve Target Of Rs 2393Technical analyst Simi Bhaumik has maintained 'buy' rating on HDFC Bank Limited stock to attain an intra-day target of Rs 2393.

According to analyst, the investors can buy the stock with a stop loss of Rs 2335.

The stock of the company, on April 27, closed at Rs 2354.95 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 84.70 and 27.81 respectively.

The share price has seen a 52-week high of Rs 2518 and a low of Rs 1816 on BSE.


Buy HDFC With Target Of Rs 653

Buy HDFC With Target Of Rs 653Technical analyst Dhaval P Vyas has maintained 'buy' rating on Housing Development Finance Corporation Limited (HDFC) stock with a target of Rs 653.

According to analyst, the investors can buy the stock with a stop loss of Rs 632.

The stock of the company, on March 17, closed at Rs 637.35 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 780.05 and a low of Rs 519.80 on BSE.

Current EPS & P/E ratio stood at 22.67 and 27.65 respectively.


Buy HDFC Bank On Dips

Buy HDFC Bank On DipsTechnical analyst Jatinder Sharma has maintained 'buy' rating on HDFC Bank stock to attain a short term target of Rs 2220.

According to analyst, the investors can buy the stock on dips.

Today, the stock of the bank opened at Rs 2178 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2518 and a low of Rs 1797.10 on BSE.

Current EPS & P/E ratio stood at 78.87 and 27.55 respectively.


Buy HDFC With Stop Loss Of Rs 652

Buy HDFC With Stop Loss Of Rs 652Technical analyst Jatinder Sharma has maintained 'buy' rating on Housing Development Finance Corporation Limited stock with a target of Rs 695.

According to analyst, the investors can buy the stock with stop loss of Rs 652.

The said target can be attained in a period of 2-3 trading sessions.

The stock of the company, on March 14, closed at Rs 453.75 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 780.05 and a low of Rs 519.80 on BSE.

Current EPS & P/E ratio stood at 22.67 and 29.09 respectively.


Banks raise home loan rates after HDFC hikes it by 25 basis points

HDFCThe biggest bank in terms of home loans, HDFC said that it has raised its floating interest rates by close to 25 basis points. That being the case, loans for homes will become costlier for existing as well as new borrowers.

Following the same trend, many other banks too have raised their rates. The most prominent ones in this category are, Oriental Bank of Commerce, Indian Overseas Bank and Dena Bank besides Punjab National Bank, Allahabad Bank and United Bank, who went out for hiking their benchmark prime lending rates (BPLR).


Intra Day Buy Call For HDFC Bank

Intra Day Buy Call For HDFC BankTechnical analyst Anil Singhvi has maintained 'buy' rating on HDFC Bank Limited stock with an intra-day target of Rs 2125.

According to analyst, the investors can purchase the stock with a stop loss of Rs 2030.

The stock of the company, on January 27, closed at Rs 2052.15 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2518 and a low of Rs 1560 on BSE.

Current EPS & P/E ratio stood at 78.87 and 26.18 respectively.

HDFC Bank has kicked off its 100th arm in the state of Andhra Pradesh.


Buy HDFC Bank With Long Term Target Of Rs 2470

Buy HDFC Bank With Long Term Target Of Rs 2470Fairwealth Securities has maintained its buy rating on HDFC Bank with a price target of Rs 2470 in its report dated January 19, 2011.

At the current price of Rs. 2109, the stock is trading at just 24.18x and 18.51x times of the projected FY11E & FY12E earning.

Presently, Housing Development Finance Corporation (HDFC) Bank has a branch network of over 1765 spread across 819 cities in the country.


Buy HDFC Bank With Stop Loss Of Rs 2075

Buy HDFC Bank With Stop Loss Of Rs 2075Technical analyst Prakash Gaba has maintained 'buy' rating on HDFC Bank Limited stock with a target of Rs 2150.

According to analyst, the investors can purchase the stock with a stop loss of Rs 2075.

Mr. Gaba said that the said target can be attained in 2-3 trading sessions.

The stock of the company, on January 18, closed at Rs 2108.75 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2518 and a low of Rs 1560 on BSE.

Current EPS & P/E ratio stood at 74.13 and 28.13 respectively.


HDFC net profit surges by 32.71% in during Q3

India’s largest mortgage company, Housing Development Finance Corp. Ltd (HDFC) has carried out a 32.71% rise in net profit during the December quarter. It was highly depended on income from the trade of a part of its investment in Infrastructure Leasing and Financial Services Ltd (IL&FS).

IL&FS is a finance company which has been supported not only by HDFC but also by Central Bank of India and the ex Unit Trust of India (UTI).

There has been an increase in the profit to Rs890.88 crore during the quarter ended December. In previous year the profit was Rs671.25 crore for the same period of time.


Buy HDFC With Target Of Rs 715

Buy HDFC With Target Of Rs 715Technical analyst Nishant Jain of Tradeswift Broking has maintained 'buy' rating on Housing Development Finance Corporation Limited (HDFC) with a 1-2 day target of Rs 715.

According to analyst, the investors can buy the stock with a stop loss of Rs 690.

The stock of the company, on December 01, closed at Rs 698.60 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 780.05 and a low of Rs 466 on BSE.

Current EPS & P/E ratio stood at 21.23 and 33.17 respectively.


HDFC Bank net profit up 33%

HDFC Bank net profit up 33% HDFC Bank reported a net profit of Rs 912.1 crore for the quarter ended September on the support of strong growth in interest income, there has been an increase of a 32.7 per cent from Rs 687.46 crore an year before.

The country’s second largest private sector lender was also facilitated by lower provisions for bad loans, which knock down to Rs 454.5 crore in the September quarter, touching Rs 594.1 crore an year ago.

Net interest income grew 29.2 per cent to Rs 2,526.3 crore, against Rs 1,955.3 crore in the September 2009 quarter.


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