RBI Approves HDFC Bank Investment: Big movements are being seen in the banking sector in the new year. HDFC Bank has good news for the new year. The Reserve Bank of India (RBI) has approved India’s largest private bank HDFC to invest in Kotak Mahindra Bank, AU Small Finance Bank, and Capital Small Finance Bank.
Table of Contents
RBI Approves HDFC Bank Investment
RBI Approves HDFC Bank Investment on 3rd January, which is valid till 2nd January 2026 next year. If the acquisition is not finalized within this time frame, this approval will lapse. However, under this approval, HDFC Bank is required to ensure that the joint ownership of its group companies in these entities does not exceed 9.5% at any time. If this approval is not completed within 1 year then this approval will be cancelled.” This approval will remain valid till 2 January 2026.
RBI Approves HDFC Bank Investment: In the Stock Exchange Filing
n a stock exchange filing, HDFC Bank said that group companies like HDFC Mutual Fund, HDFC Life Insurance Company Limited, HDFC ERGO General Insurance Company Limited, HDFC Pension Fund Management Limited and promoters and sponsors have been given a total of 9.5% stake in the bank. Approval has been received.
Share Performance
HDFC Bank: HDFC Bank shares fell 2.53% yesterday, closing at ₹1,748.40. The stock has given a negative return of 6.01% in the last 1 month. At the same time, so far this year its shares have seen a decline of 1.30%. Whereas, in the last 6 months HDFC Bank has given positive returns of only 1.23%.
Kotak Mahindra Bank: Kotak Mahindra Bank shares fell by 0.079% yesterday, closing at ₹1,835.70. The stock has given a return of 4.45% in the last 1 month. At the same time, so far this year the stock has seen a rise of only 3.25%. Whereas, Kotak Mahindra Bank shares have remained flat in the last 6 months.
Au Small Finance Bank: The performance of the company’s shares has not been good in the last year. During this period this stock has fallen by more than 25 %. The 52-week low level of the company is Rs 534 and the 52-week high is Rs 813. Let us tell you, this stock has fallen by about 12 % in the last 2 years.
HDFC bank Profit Increases 5%
HDFC Bank’s standalone net profit in the July-September quarter increased by 5% year-on-year to ₹16,821 crore. It was ₹15,976 crore in the same quarter last year. The bank’s net profit increased by 4% quarterly. The bank’s profit in the last quarter (Q1FY25) was Rs 16,174 crore. HDFC released the results of Q2FY25 i.e. the second quarter of the financial year 2024-25 on 19 October.
HDFC Bank
- HDFC Bank provides banking and financial services.
- The founder of the bank is Hasmukhbhai Parekh.
- He established this bank in 1994.
- Its headquarters is in Mumbai.
- The managing director and chief executive officer (CEO) of the bank is Shashidhar Jagadishan.
- HDFC Bank has more than 9,092 branches and 20,993 ATMs in the country.
RBI Approves HDFC Bank's Acquisition Of 9.5% Stakes in AU Small Finance Bank; Details Herehttps://t.co/WVsuojMGKr
— MSN India (@msnindia) January 4, 2025
Jay Chavda He is the Founder and Writer of businesspulsecare.com. He is an I.T Engineer, Freelancer, Businessman. He posts Business, Stock/Share Market, Finance Related News and updates on the website. 🔗