Day after repo rate hike: Banks, NBFCs start raising loan rates

With the Reserve Bank of India (RBI) on Wednesday hiking the repo rate by 50 basis points to 4.9% to tame inflation, banks and non-banking financial companies have now started raising their loan rates. While some rates are linked to the repo rates, others are linked to the lenders’ internal cost of funds. Some banks … Read more

Want to invest in most profitable firms of FY22? Here is the list of top 10

India Inc reported over 50 per cent growth in consolidated net profit for the financial year ended March 31, while net sales jumped by 25 per cent on a year-on-year (YoY) basis. Data available with Ace Equity showed that the top 10 players contributed as much as 25 per cent and 33 per cent to … Read more

Supreme Court rejects Jet staff plea against sale of Bandra premises; Rs 360 crore proceeds to go to HDFC

The Supreme Court on Friday rejected Jet Airways Aircraft Maintenance and Engineers Welfare Association’s (JAMEWA) appeal against the National Company Law Tribunal’s decision granting approval to the sale of the airline’s premises in Bandra Kurla Complex in Mumbai to settle Rs 360 crore dues of lender HDFC. The lender had claimed that a portion of … Read more

Lack of clear communication on merits of merger led to fall in twin stocks: HDFC CEO Keki Mistry

The fall in stock prices of HDFC Ltd and HDFC Bank after the announcement of their merger was due to the lack of “clear” communication on the merits of the amalgamation on account of silent period ahead of quarterly results declarations, according to a senior executive. Keki Mistry, who is the vice chairman and chief … Read more

HDFC Bank to open 150 branches in UP this year; to create 1,000 jobs

Private lender HDFC Bank on Thursday said it will open 150 new branches across Uttar Pradesh this year, creating more than 1,000 direct jobs. Majority of these branches will be opened in rural areas, said Akhilesh Kumar Roy, branch banking head of UP, HDFC Bank. “We are committed to supporting the state’s economy by opening … Read more