India’s industrial production slowed to a five-month low of 4.2% in June 2024, mainly due to poor performance of the manufacturing sector, though power and mining sectors continue to perform well, as per official data released on Monday. Meanwhile, retail inflation declined to a five-year low of 3.54% in July mainly on account of subdued prices of food items, and base effect, according to official data released on Monday. “The weightage of HDFC Bank, the biggest private lender in India, would rise in its MSCI Global Standard Index over the course of two tranches. Although the street had expected the same thing to happen all at once,” Arvinder Singh Nanda of Master Capital Services Ltd said. Equity benchmark BSE Sensex tumbled nearly 700 points to sink below the 79,000 level on Tuesday (August 13), extending its losses for the second straight day due to selling pressure in HDFC Bank, SBI and ITC amid fresh foreign capital outflows.
Total Shareholdings
If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle. “HDFC Bank is currently under pressure after outperforming the market in the days leading up to the MSCI rebalancing, driven by expectations despite its weak earnings. The stock is now facing profit-booking as investors react to the phased inflows,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
What Is NIFTY 50? How Can You Invest In NIFTY 50?
Foreign Institutional Investors (FIIs) again turned sellers on Monday as they offloaded equities worth ₹4,680.51 crore after a day’s breather, according to exchange data. As of 13 Aug 2024, it has a market cap of 12,21,236.5 Cr. European markets were trading mostly in the green.
Key stats
HDFC Bank Ltd. is a private sector enterprise in India and operates in the Finance – Banks – Private sector. The company has different verticals, which include HDFC Trustee Co. Ltd, HDFC Securities Ltd., HDFC ERGO General Insurance Company Ltd., HDFC Life Insurance Company Ltd., HDFC Asset Management Company Ltd., HDFC Capital Advisors Ltd., HDB Financial Services Ltd. and HDFC Sales Pvt.Ltd.. Products and brands offered by the company include Interest On Balances with RBI and Other Inter-Bank Funds, Income From Investment, Interest and Interest & Discount on Advances & Bills.
Key Metrics
The U.S. markets ended on a mixed note on Monday. From the 30 Sensex firms, HDFC Bank declined over 3%. Tata Steel, Bajaj Finance, State Bank of India, Tata Motors, Power Grid and JSW Steel were the other laggards. Comments have to be in English, and in full sentences. Please abide by our community guidelines for posting your comments. The BSE benchmark ended lower by 56.99 points or 0.07% at 79,648.92 on Monday.
- The U.S. markets ended on a mixed note on Monday.
- As of 13 Aug 2024, it has a market cap of 12,21,236.5 Cr.
- Comments have to be in English, and in full sentences.
- The BSE benchmark ended lower by 56.99 points or 0.07% at 79,648.92 on Monday.
HDFC Bank Stock Performance
The Nifty dipped 20.50 points or 0.08% to 24,347. Global oil benchmark Brent crude declined 0.35% to USD 82.01 a barrel. In Asian markets, Seoul, Tokyo Shanghai and Hong Kong settled in the positive territory.