Top 8 firms add over ₹4 lakh crore in market cap, HDFC Bank, ICICI Bank lead gains
In a week, the market valuation of eight of the top 10 most valued firms surged by ₹4,13,003.23 crore, with HDFC Bank and ICICI Bank emerging as the biggest gainers.
In a week, the market valuation of eight of the top 10 most valued firms surged by ₹4,13,003.23 crore, with HDFC Bank and ICICI Bank emerging as the biggest gainers.
HDFC Bank took the biggest hit as its valuation tumbled Rs 56,124.48 crore to Rs 12,01,267.28 crore.
In a significant development, HDFC Bank's part-time chairman and independent director Atanu Chakraborty has resigned from his position citing concerns over “certain happenings and practices” at the bank.
HDFC Bank Managing Director and CEO Sashidhar Jagdishan has approached the Supreme Court seeking quashing of a criminal FIR filed against him by the Lilavati Kirtilal Mehta Medical Trust, which manages Mumbai’s prominent Lilavati Hospital.
Reliance Industries and HDFC Bank remained with maximum gain, in line with an optimistic trend in equities.
Home finance company Housing Development Finance Corporation Ltd (HDFC) closed the Q2FY23 with a higher net profit of Rs 4,454.24 crore.
The largest private sector bank in India is investigating whether any extra funds placed in the accounts were withdrawn.
The company's profit before tax for the quarter ended March 31, 2022 stood at Rs 4,622 crore compared to Rs 3,924 crore in the corresponding quarter of the previous year, representing a growth of 18 per cent
"...the weakness in HDFC twins after the merger announcements is due to sustained selling by FPIs and shorting by speculators exploiting the FPI positioning in the stocks,"
According to brokerage firm Edelweiss, HDFC Bank's net profit is expected to increase by 24 per cent to Rs 10,183 crore in January-March 2022 quarter.
