Latest news with #HDFCBank
The Print
7 hours ago
- Business
- The Print
Sensex jumps nearly 540 pts on buying in bluechip banks, oil shares
The 50-share NSE Nifty gained 159 points or 0.63 per cent to settle at 25,219.90 as 37 of its constituents advanced and 13 declined. The 30-share BSE Sensex jumped 539.83 points or 0.66 per cent to settle at 82,726.64. During the day, it surged 599.62 points or 0.72 per cent to 82,786.43. Mumbai, Jul 23 (PTI) Benchmark Sensex jumped nearly 540 points while Nifty closed above the 25,200 level on Wednesday on heavy buying in banking giants and oil shares and a positive trend in Asian markets after Japan secured a trade deal with the US. Among Sensex firms, Tata Motors rose the most by 2.51 per cent. Bharti Airtel, Bajaj Finance, Maruti, Bajaj Finserv, ICICI Bank, HDFC Bank and Reliance Industries were also the major gainers. Private banking giants HDFC Bank and ICICI Bank hit their 52-week high levels intra-day before settling nearly 1 per cent higher. Value buying in Reliance Industries, following five days of losses, also supported the rally. RIL shares closed higher by 0.83 per cent. However, Hindustan Unilever, UltraTech Cement, Bharat Electronics and ITC were among the laggards. 'The Indian equity market demonstrated resilience despite a mixed start to Q1 FY26 earnings. Positive global cues, underpinned by optimism surrounding the US-Japan trade agreement, have supported sentiment. Additionally, progress toward finalising the India-UK FTA has further contributed to the constructive outlook. 'Continued advancements in global trade negotiations are expected to alleviate near-term trade tensions and foster greater market stability. While elevated valuations remain a concern, the prevailing market strength indicates potential for near-term earnings recovery. However, the pace and sustainability of this recovery will be critical in shaping the market's forward trajectory,' Vinod Nair, Head of Research, Geojit Investments Limited, said. The BSE midcap gauge climbed 0.24 per cent and smallcap index went up by 0.05 per cent. Among BSE sectoral indices, telecommunication jumped 1.14 per cent, followed by auto (0.86 per cent), bankex (0.75 per cent), teck (0.74 per cent), financial services (0.70 per cent), healthcare (0.70 per cent) and energy (0.65 per cent). Realty dropped 2.60 per cent, FMCG (0.46 per cent), capital goods (0.31 per cent) and services (0.20 per cent). In Asian markets, Japan's Nikkei 225 index jumped 3.51 per cent as US President Donald Trump announced a trade deal with Japan, with a 15 per cent tax on goods imported from that country. South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in positive territory. 'On the global stage, investor sentiment soared following optimistic developments surrounding the US-Japan trade pact, igniting expectations for further international agreements in the near future,' according to Ashika Institutional Equities. Markets in Europe were trading in the green. The US markets ended mostly higher on Tuesday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,548.92 crore on Tuesday, according to exchange data. Domestic Institutional Investors (DIIs) bought stocks worth Rs 5,239.77 crore in the previous trade. Global oil benchmark Brent crude dipped 0.45 per cent to USD 68.29 a barrel. The rupee stayed weak for the sixth consecutive session and settled with a loss of 3 paise at 86.41 against the dollar on Wednesday, amid a strong American currency and outflow of foreign funds. PTI SUM MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Yahoo
8 hours ago
- Business
- Yahoo
HDFC Bank (HDB) Reports Higher-than-expected Quarterly Profit
HDFC Bank Limited (NYSE:HDB) is one of the Best Indian Stocks to Buy for Next 5 Years. Reuters highlighted that the company reported higher-than-expected quarterly profit thanks to a surge in interest income from loans and treasury gains, despite an increase in provisions for bad loans. HDFC Bank Limited (NYSE:HDB)'s standalone net profit went up by 12.2% to INR181.55 billion ($2.11 billion) during the April-to-June quarter, above the average analyst forecast of INR172.84 billion, reported Reuters. Its provisions for bad loans increased five-fold to INR144 billion. A business owner tallying their profits in the back office of a local banking branch. Reuters, while quoting HDFC Bank Limited (NYSE:HDB)'s exchange filing, noted that most of such provisions were not related to any actual bad loans. These acted as a countercyclical buffer so that the balance sheet becomes more resilient. The lenders in India continue to face higher bad loans in segments like microfinance and unsecured portfolio, prompting them to set aside more funds for potential defaults and to strengthen the balance sheets, noted Reuters. This firm also added that, while overall bank credit growth witnessed a slowdown in India, HDFC Bank Limited (NYSE:HDB) saw growth of 6.7% for its overall loan book, thanks to the 17.1% increase in loans to small and medium businesses. Brown Advisors, an investment management company, released its Q4 2024 investor letter. Here is what the fund said: 'HDFC Bank Limited (NYSE:HDB) has shown robust fundamental business drivers, but the shares have relatively underperformed since its merger with former parent HDFC Ltd. This merger enhances HDFC Bank's long-run business opportunities, particularly mortgages, in the Indian market but comes with short-term sub-optimal funding which we expect to unwind over the next couple of years. With an enhanced competitive position, we feel it unlikely this remains an issue over time. HDFC Bank has also shown good downside protection historically when the credit cycle turns, and the bank's defensive lending practices allow it to outperform peers. Impressively, management has expanded lending at the right time historically too. We believe these characteristics remain intact.' Headquartered in Mumbai, India, HDFC Bank Limited (NYSE:HDB) is engaged in providing banking and financial services to individuals and businesses. While we acknowledge the potential of HDB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
The Hindu
12 hours ago
- Business
- The Hindu
Sensex jumps nearly 540 points on buying in bluechip banks, oil shares
Benchmark Sensex jumped nearly 540 points while Nifty closed above the 25,200 level on Wednesday (July 23, 2025) on heavy buying in banking giants and oil shares and a positive trend in Asian markets after Japan secured a trade deal with the U.S. The 30-share BSE Sensex jumped 539.83 points or 0.66% to settle at 82,726.64. During the day, it surged 599.62 points or 0.72% to 82,786.43. The 50-share NSE Nifty gained 159 points or 0.63% to settle at 25,219.90 as 37 of its constituents advanced and 13 declined. Among Sensex firms, Tata Motors rose the most by 2.51%. Bharti Airtel, Bajaj Finance, Maruti, Bajaj Finserv, ICICI Bank, HDFC Bank and Reliance Industries were also the major gainers. Private banking giants HDFC Bank and ICICI Bank hit their 52-week high levels intra-day before settling nearly 1% higher. Value buying in Reliance Industries, following five days of losses, also supported the rally. RIL shares closed higher by 0.83%. However, Hindustan Unilever, UltraTech Cement, Bharat Electronics and ITC were among the laggards. 'The Indian equity market demonstrated resilience despite a mixed start to Q1 FY26 earnings. Positive global cues, underpinned by optimism surrounding the U.S.-Japan trade agreement, have supported sentiment. Additionally, progress toward finalising the India-U.K. FTA has further contributed to the constructive outlook. 'Continued advancements in global trade negotiations are expected to alleviate near-term trade tensions and foster greater market stability. While elevated valuations remain a concern, the prevailing market strength indicates potential for near-term earnings recovery. However, the pace and sustainability of this recovery will be critical in shaping the market's forward trajectory,' Vinod Nair, Head of Research, Geojit Investments Limited, said. The BSE midcap gauge climbed 0.24% and smallcap index went up by 0.05%. Among BSE sectoral indices, telecommunication jumped 1.14%, followed by auto (0.86%), bankex (0.75%), tech (0.74%), financial services (0.70%), healthcare (0.70%) and energy (0.65%). Realty dropped 2.60%, FMCG (0.46%), capital goods (0.31%) and services (0.20%). In Asian markets, Japan's Nikkei 225 index jumped 3.51% as U.S. President Donald Trump announced a trade deal with Japan, with a 15% tax on goods imported from that country. South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in positive territory. 'On the global stage, investor sentiment soared following optimistic developments surrounding the U.S.-Japan trade pact, igniting expectations for further international agreements in the near future,' according to Ashika Institutional Equities. Markets in Europe were trading in the green. The U.S. markets ended mostly higher on Tuesday (July 22, 2025). Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,548.92 crore on Tuesday (July 22, 2025), according to exchange data. Domestic Institutional Investors (DIIs) bought stocks worth ₹5,239.77 crore in the previous trade. Global oil benchmark Brent crude dipped 0.45% to $68.29 a barrel. The rupee stayed weak for the sixth consecutive session and settled with a loss of 3 paise at 86.41 against the dollar on Wednesday (July 23, 2025), amid a strong American currency and outflow of foreign funds.
Mint
14 hours ago
- Business
- Mint
Sensex jumps over 500 points, Nifty 50 reclaims 25,200; what is driving the Indian stock market higher?
,Indian stock market today: Frontline indices, the Sensex and the Nifty 50, clocked healthy gains on Wednesday, July 23, supported by positive global cues and buying in select heavyweights, including HDFC Bank and ICICI Bank. The Sensex opened at 82,451.87 against its previous close of 82,186.81 and rose 534 points, or 0.65 per cent, to an intraday high of 82,720.66. The NSE counterpart Nifty 50 started the day at 25,139.35 against the previous close of 25,060.90 and reclaimed the 25,200 mark, climbing 0.63 per cent to an intraday high of 25,219.05. Around 2:55 PM, the Sensex was 506 points, or 0.62 per cent, up at 82,693, while the Nifty 50 was at 25,204, up 144 points, or 0.57 per cent. The Indian stock market clocked healthy gains on buying in select heavyweights, including HDFC Bank, ICICI Bank, Bharti Airtel, Reliance Industries, and Infosys. Positive global cues after US President Donald Trump announced a trade deal with Japan also influenced sentiment. Trump said the US and Japan had finalised a trade deal, under which a 15 per cent tariff will be levied on Japanese imports into the US. A deal with Japan has rekindled hopes that the US may soon settle deals with other major economies, including India and China. News agency PTI reported that a team of US trade officials will visit India in August for the next round of talks on the proposed bilateral trade pact between the two nations. Experts highlight another key factor keeping the market resilient: better-than-expected Q1 results from financial majors. For example, the Q1 results of ICICI Bank and HDFC Bank suggest that Street expectations of a subdued quarter for banking majors may have been overblown. "A significant takeaway from the early Q1 results is the improving prospects of banking and digital stocks. In banking, the market will be choosy with focus on the high-quality private sector banks, particularly ICICI Bank and HDFC Bank," VK Vijayakumar, Chief Investment Strategist, Geojit Investments, observed. "Q1 results of Eternal and Paytm indicate steady growth potential of the digital stocks, which have a long runway of growth. Investor interest in the digital segment will remain high despite the high valuations," said Vijayakumar. (This is a developing story. Please check back for fresh updates.) Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
India Today
18 hours ago
- India Today
Bengaluru women stripped on video, scammed by fraudsters posing as Mumbai police
Two women in Bengaluru were harassed, stripped on video, and blackmailed by fraudsters posing as Mumbai police officers. The ordeal unfolded on July 17, 2025, when the women received a call from individuals claiming to be from Colaba Police callers accused one of the women of involvement in a Jet Airways scam, alleging links to money laundering, human trafficking, and even murder. Armed with her accurate Aadhaar details and a fake arrest warrant, the impersonators threatened her into complying with a series of humiliating and illegal victims were forced to transfer Rs 58,477 from an HDFC Bank account under the pretext of verification 'as per RBI and CBI guidelines.' The scam escalated when the women were coerced into stripping on a WhatsApp video call, with the fraudsters falsely claiming it was a 'medical examination' to check for bullet wounds and the women were under 'digital and home arrest,' the criminals kept them under video surveillance for nearly nine hours, constantly issuing threats. Around 8 pm, one of the victims managed to alert a friend, and the scam was women then approached Banaswadi Police Station and filed a cybercrime complaint at the Cyber and Economic Offences (CEN) Crime Branch in provided authorities with the phone numbers used by the fraudsters and details of a UPI transaction made to a person identified as Abhishek SP via victims have urged authorities to act swiftly, apprehend the culprits, and ensure that any illicit photos or videos from the incident are removed. Police investigations are underway.- EndsMust Watch IN THIS STORY#Bengaluru
