Latest news with #HDFCBank
Mint
7 hours ago
- Business
- Mint
Stock market this week sees top gainers and losers you can't ignore
India recorded a current account surplus of USD 13.5 billion (1.3% of GDP) in Q4 of FY25, marking the first surplus in four quarters and showcasing the country's strong external position. This positive development was driven by record-high services exports and robust remittance inflows, which together reinforced the resilience of India's external sector. For the full fiscal year FY25, the current account deficit narrowed to just 0.6% of GDP, down from 0.7% in FY24, highlighting improved trade dynamics and better foreign exchange management. A surplus in the current account not only reflects strong demand for Indian services globally but also strengthens the Indian rupee, boosts investor confidence, and reduces the country's dependence on foreign capital. This positive shift enhances India's macroeconomic stability and signals a favorable outlook for global investors, making the Indian economy more resilient to global uncertainties. 2. Strong investor response to recent IPOs reflects market optimism. The recent IPO activity in the Indian market has shown encouraging signs of investor confidence. Indogulf Cropsciences Limited witnessed a healthy subscription of 0.98 times, reflecting steady interest from retail and institutional investors despite a competitive environment. Meanwhile, HDB Financial Services Limited, a subsidiary of HDFC Bank, received an overwhelming response with its IPO being oversubscribed by 17.65 times, showcasing strong investor trust in its financial strength and growth prospects. Even more impressive, Sambhv Steel Tubes Limited saw an extraordinary subscription of 30.33 times, signaling robust demand for industrial and manufacturing-based stocks. These oversubscriptions across diverse sectors—agriculture, financial services, and infrastructure—indicate a positive outlook among investors and a resilient capital market. Such strong participation is a testament to India's economic growth potential and the increasing appetite for new investment opportunities, setting a vibrant tone for the upcoming IPO season. The mutual fund industry continues to innovate and diversify with several New Fund Offers (NFOs) launched by prominent AMCs, reflecting a positive momentum in investor-centric offerings. Groww AMC has introduced the Groww Nifty India Internet ETF FoF, tapping into the booming digital economy. SBI AMC launched the Nifty200 Momentum 30 Index Fund, catering to investors seeking momentum-driven strategies. Union AMC brought in the Low Duration Fund, ideal for short-term parking with stability. Zerodha AMC unveiled its Silver ETF FoF, enabling access to precious metals diversification. *Kotak AMC's Nifty 200 Quality 30 Fund emphasizes high-quality stocks, while Bajaj Finserv AMC introduced a Small Cap Fund targeting high-growth potential companies. Lastly, Mahindra AMC launched a Banking & Financial Services Fund, aligned with India's robust financial sector outlook. These NFOs present varied and strategic investment opportunities, catering to diverse investor needs and reinforcing positive sentiment across asset classes. Index Returns Best Performers Worst Performers Bought and Sold Most Watchlisted Kuvera is a free direct mutual fund investing platform. Unless otherwise stated data sourced from BSE, NSE and kuvera.
Time of India
9 hours ago
- Business
- Time of India
From Rs 4.3 crore to Rs 20 crore: EOW steps in as HDFC loan scam widens; accused used forged salary slips, bank statements
HYDERABAD: The scope of the HDFC Bank personal loan fraud has significantly widened, prompting the police commissioner to transfer the case from the cyber crime police to the economic offences wing (EOW). Initially involving fraudulent loans worth Rs 4.3 crore in the names of 11 individuals, the case has widened after HDFC Bank unearthed 63 more suspicious loans-allegedly orchestrated with the involvement of bank staff-amounting to over Rs 20 crore. HDFC Bank has provided the names and details of the 63 individuals linked to the Rs 20 crore worth of loans. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad The scam first came to light on May 27, 2023, when V Shrikanth, area investigation manager at HDFC Bank, lodged a complaint with the Cyberabad cyber crime police. He alleged that 11 individuals, falsely posing as employees of reputed companies, had secured personal loans ranging between Rs 38 lakh and Rs 49.5 lakh in 2022-2023. These applications were processed entirely via the bank's mobile platform using Aadhaar-based e-KYC. To qualify for the loans, the accused allegedly uploaded forged salary slips, bank statements, and identity proofs, giving the impression of stable incomes. 'Defaulted payments' Once the loans were disbursed, the borrowers defaulted on payments and vacated the listed addresses. Subsequent verification visits confirmed that none of them worked at the companies they had claimed. On June 10, 2023, police arrested 10 accused, including two HDFC Bank employees D Chitti Babu, risk intelligence and control (RIC) manager at the Banjara Hills branch, and Harish Chandra Gopal Shetty, credit manager in the same branch.
Time of India
11 hours ago
- Business
- Time of India
HDB Fin's IPO subscribed 17x, most in 4 years
MUMBAI: The IPO segment of the market is back to its glory days again. On Friday, the Rs 12,500-crore maiden offer for HDB Financial, an arm of HDFC Bank , was subscribed nearly 17 times with the total demand worth almost Rs 1.6 lakh crore. The IPO is set to become India's most sought after large (over $1 billion or about Rs 8,500 crore) listing in at least four years on heavy bidding from foreign and domestic investors. Before the IPO opened on Wednesday, the NBFC had raised Rs 3,369 crore from a clutch of large institutional investors. The HDB Financial's offer is the largest by any NBFC in India. The day also saw another IPO close successfully. The Rs 540-crore offer for Sambhv Steel closed with a 28.5 times subscription, generating a demand worth nearly Rs 11,000 crore. The week saw five main board IPOs close successfully with the total demand for shares at over Rs 1.8 lakh crore against an offer size of about Rs 15,000 crore. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
13 hours ago
- Business
- Mint
HDB Financial Services IPO allotment date in focus. GMP, subscription, how to check status
HDB Financial Services IPO Allotment: The initial public offering (IPO) of HDB Financial Services, a subsidiary of HDFC Bank, has received strong demand from investors. As the bidding period has ended, investors now focus on HDB Financial Services IPO allotment date which is expected to be finalise soon. The public issue was open for subscription from June 25 to June 27. HDB Financial Services IPO allotment date is likely June 30, Monday, and HDB Financial Services IPO listing date is expected to be July 2. The ₹ 12,500-crore worth HDB Financial Services IPO was a combination of fresh issue of 3.38 crore equity shares aggregating to ₹ 2,500 crore and an offer-for-sale (OFS) component of 13.51 crore shares amounting to ₹ 10,000 crore. HDB Financial IPO price band was set at ₹ 700 to ₹ 740 per share. HDB Financial Services IPO subscription status suggests the mainboard IPO from the HDFC group has received a strong response from the primary market investors in the three day-bidding period. However, the trends in the unlisted market for HDB Financial Services shares remains upbeat, with a muted grey market premium (GMP). The sentiment in the grey market still remains tepid despite a sharp rally in the Indian stock market. HDB Financial Services IPO GMP today is ₹ 54 per share, according to market observers. This means that HDB Financial Services shares are available at a premium of ₹ 52 in the grey market today. HDB Financial Services IPO GMP today signals that the HDB Financial Services shares is estimated to list at ₹ 794 apiece, a premium of 7.30% to the issue price of ₹ 740 per share. However, stock market experts have cautioned investors to not subscribe to the IPOs by just watching at the GMPs, as the grey market prices may change anytime before listing. One should look at and consider the company's fundamentals before investing. HDB Financial Services IPO has been subscribed by 16.69 times in total as the public issue received bids for 217.67 crore equity shares as against 13.04 crore on the offer, data on NSE showed. The public issue is subscribed 5.72 times in the retail category, and 55.47 times in the Qualified Institutional Buyers (QIBs) category. The Non Institutional Investors (NII) segment received 9.99 times subscription. HDB Financial Services IPO opened for subscription on Wednesday, June 25, and closed on Friday, June 27. As June 28 and June 29 is a weekend and it is stock market holiday, HDB Financial Services IPO allotment date is likely June 30, Monday. As per the T+3 listing rule, HDB Financial Services shares are expected to be listed on July 2 on both the stock exchanges, BSE and NSE. The company is expected to finalise the HDB Financial Services IPO allotment status soon. Once HDB Financial Services IPO allotment status is fixed, the company will then credit the equity shares into the demat accounts of eligible allotment holders, and then initiate refunds to unsuccessful investors on the same day. HDB Financial Services IPO allotment status online check can be done through the BSE and NSE websites, as well as the official portal of the IPO registrar. MUFG Intime India Private Limited (Link Intime) is the HDB Financial Services IPO registrar. Step 2] Select 'Equity' in the Issue Type Step 3] Choose 'HDB Financial Services Limited' in the Issue Name dropdown menu Step 4] Enter either Application No. or PAN Step 5] Verify by ticking on 'I am not robot' and click on 'Search' Your HDB Financial Services IPO allotment status will be displayed on the screen. Step 2] Select 'Equity and SME IPO bids' Step 3] Choose 'HDB Financial Services' from the Issue Name dropdown menu Step 4] Enter your PAN and Application Number Your HDB Financial Services IPO allotment status will be displayed on the screen. Step 2] Choose 'HDB Financial Services Limited' in the Select Company dropdown menu Step 3] Select among PAN, App. No., DP ID or Account No. Step 4] Enter the details as per the option selected Your HDB Financial Services IPO allotment status will be displayed on the screen. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
17 hours ago
- Business
- Business Standard
Sensex reclaims 84K level for first time since October, nears peak
Benchmark indices rose for a fourth straight session on Friday, with the Sensex closing above the 84,000 mark for the first time since October 1, 2024. The rally was fuelled by improving sentiment amid easing geopolitical tensions and optimism over potential trade deals between the US and its trading partners. Both indices posted weekly gains of 2 per cent, the most since the week ended May 16. The Nifty rose 0.35 per cent, or 89 points, to settle at 25,638, while the BSE Sensex climbed 0.36 per cent, or 303 points, to close at 84,059. Both benchmarks ended at their highest levels since October 1. In the broader market, the Nifty Smallcap 100 and Midcap 100 indices gained 4.3 per cent and 2.4 per cent, respectively, over the week. Most of the week's gains were driven by HDFC Bank and Reliance Industries (RIL), the top two weights in the Sensex and Nifty. RIL rose 3.5 per cent this week, supported by upbeat earnings forecasts from multiple brokerages. HDFC Bank gained 2.5 per cent during the week on expectations of lower funding costs and strong gross domestic product growth. The Nifty and Sensex are now trading less than 3 per cent below their all-time highs, last seen on September 27. The week's gains followed the announcement of a ceasefire between Israel and Iran, which led to a decline in oil prices. The Nifty Metal index outperformed this week, jumping nearly 5 per cent as a weaker dollar lifted the global outlook for commodities by making them more affordable. Expectations of deeper US rate cuts and uncertainty ahead of former President Donald Trump's July 9 tariff deadline weighed on the dollar. 'Things are looking better on the geopolitical front, and there is hope that the US and its key trading partners will reach a deal,' said Ambareesh Baliga, independent equity analyst. Even if a deal doesn't materialise before the July 9 deadline, there's a chance of an extension, Baliga said. Market breadth was positive, with 2,165 stocks advancing and 1,846 declining. Foreign portfolio investors were net buyers to the tune of ₹1,397 crore, while domestic institutional investors were net sellers to the tune of ₹589 crore. The total market capitalisation of BSE-listed firms rose by ₹2.5 trillion to ₹460 trillion ($5.4 trillion). 'For trend-following traders, 25,500–25,300 on the Nifty and 83,300-82,700 on the Sensex would act as crucial retracement support zones. As long as the market remains above these levels, the uptrend is likely to continue on the higher side, with 25,850/84,400 serving as the immediate resistance level,' said Amol Athawale, VP-Technical Research, Kotak Securities. Meanwhile, the rupee strengthened for the second consecutive day on Friday, supported by likely inflows from global funds and a weaker dollar index. The domestic currency closed 22 paise higher at 85.49, a day after closing at 86.71 against the dollar. The currency saw its best week since January 2023, driven mainly by a plunge in crude oil prices amid Israel-Iran conflicts.
