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<ul><li><keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword>’s share price is up by over 3% on Monday morning after the financial institution declared its results on Saturday, July 18. </li><li>The bank reported a 20% jump in profits as compared to the same quarter last year. </li><li>Analysts expect HDFC Bank to bear through the impact of the coronavirus pandemic with more capital coming in and an in-house replacement of HDFC Bank’s current managing director, Aditya Puri. </li></ul>HDFC Bank’s share price is up more than 3% after it announced its earnings over the weekend. The jump in share price also comes after shareholders have approved the bank to raise up to ₹50,000 crore through bonds to enhance capital base to fund its business growth. <div type="image" title="hdfc bank stock price q1fy21 (1)" msid="77061440" hostid="261" caption="&amp;lt;p&amp;gt;HDFC Bank&amp;#39;s stock price over the last three months&amp;lt;/p&amp;gt;"></div> The bank reported a 20% increase in profits on a yearly basis. However, provisions for bad loans and contingencies were up 49% as compared the same quarter last year bolstering for what may come when the Reserve Bank of India’s (RBI) moratorium comes to end in August. <div type="image" title="hdfc bank profit" msid="77061449" hostid="261" caption="&amp;lt;p&amp;gt;HDFC Bank&amp;#39;s profits over the last five quarters&amp;lt;/p&amp;gt;"></div> <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total portfolio under moratorium </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Customers who availed moratorium </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">97% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">People who have cleared dues since first moratorium </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">70% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">People who rolled from the first moratorium to the second </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">90% </td></tr></tbody></table>Source:Motilal Oswal Securities Analysts believe that adequate capital addition and the likelihood of an internal successor to the post of Managing Director (MD) are indicators that HDFC Bank has enough of a cushion to bear through however the coronavirus pandemic plays out. “Overall performance of the bank should remain steady and we expect the bank to offset near-term pressure on other income via tight control over opex,” said Motilal Oswal Securities’ review of the bank’s earnings. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tip </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target Price </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Time frame </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BUY </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,320 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 year </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BUY </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 1,280 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 year </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yes Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BUY </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 1,136 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 year </td></tr></tbody></table> Banks, including HDFC Bank, are busy raising capital to cushion the impact of the coronavirus in the coming quarters. Shareholders of HDFC Bank have given their approval to raise up to ₹50,000 crore through bonds to enhance capital base to fund its business growth. The bank is also in the midst of appointing a successor for its managing director Aditya Puri. The three shortlisted names sent to the Reserve Bank of India include Sashidar Jagdishan, Kaizad Barucha and Sunil Garg. The former two are already executive directors at HDFC Bank Aditya Garg is the global chief executive officer (CEO) of Citi Commercial Bank. “CEO succession remains an important event in the near term and a key monitorable,” said Motilal Oswal Securities’ report. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-q1-earnings-bad-loans-and-moratorium/articleshow/77033494.cms">HDFC Bank is mum on the loans under moratorium⁠— profit jumps 20%, provision for bad loans spike 49%</a> <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-earnings-expectation-from-q1fy21-results-on-july-18/articleshow/77013905.cms">HDFC Bank may see credit growth but its margins will continue to remain under pressure in Q1</a> <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-loans-to-be-cheaper-as-interest-rates-get-slashed-by-0-2/articleshow/76830880.cms">HDFC Bank loans to be cheaper as interest rates get slashed by 0.2%</a>

HDFC Bank is beefing up capital and provision to cushion a spike in bad loans post moratorium — and that’s helping its share price

Reserve Bank has accorded approval to HDFC Mutual Fund to raise its stakes in Federal Bank as well as in Equitas Small Finance Bank to up to 9.5 per cent. The clearance has been granted with reference to the application made by <keyword id="174045" type="General" weightage="20" keywordseo="hdfc-amc" source="Orion">HDFC AMC</keyword> to RBI, according to a regulatory filing on Thursday. "...the Reserve Bank of India (RBI) vide its letter dated September 20, 2023, has accorded its approval to HDFC Asset Management Company Ltd (HDFC AMC) for acquiring aggregate holding of up to 9.5 per cent of the paid-up share capital or voting rights of Federal Bank," the bank said in the filing. In a separate filing, Equitas Small Finance Bank said HDFC AMC got RBI's approval on September 20 to raise 'aggregate holding' of up to 9.5 per cent of the paid-up equity capital or voting rights in the small finance bank. HDFC AMC holds a 4.49 per cent stake in Kerala-based Federal Bank, and a 4.68 per cent stake in Equitas Small Finance Bank as of June 30, 2023. The approval granted by the <keyword id="6358156" type="General" weightage="20" keywordseo="central-bank" source="Orion">central bank</keyword> is subject to compliance with the relevant provisions of the <keyword id="6354778" type="General" weightage="20" keywordseo="banking" source="Orion">Banking</keyword> Regulation Act, 1949, RBI's Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies dated January 16, 2023 (as amended from time to time), provisions of the Foreign Exchange Management Act, 1999, regulations issued by Securities and Exchange Board of India (Sebi), and any other guidelines, regulations and statutes as applicable, the filing said. As per the RBI intimation, it said HDFC AMC must ensure that the aggregate holding in the bank does not exceed 9.5 per cent of the paid-up share capital or voting rights of the bank at all times. Further, it said, if the aggregate holding falls below 5 per cent, prior approval of RBI will be required to increase it to 5 per cent or more of the paid-up share capital or voting rights of the bank.

HDFC MF gets Reserve Bank nod for raising stake in Federal Bank, Equitas SFB to 9.5%

<ul><li>HDFC is looking to bring in more capital in the wake of the coronavirus pandemic to the tune of ₹14,000 crore. </li><li>India’s biggest mortgage lender plans to raise ₹10,000 through qualified institutional placement (QIP) and ₹4,000 in warrants. </li><li>Another ₹9,000 will be issued as secured redeemable non-convertible debentures.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider. </a></li></ul>India’s biggest mortgage lender Housing Development Finance Corporation (HDFC) is on the hunt for capital and that's boosting its share price. HDFC’s stock value jumped by 1.5% in early morning trade after the company announced that it has plans to raise ₹14,000 crore through its new equity fundraising program. Around ₹10,000 crore will come from qualified institutional placement (QIP) and ₹4,000 crore in warrants. <div type="image" title="HDFC BANK stock price (1)" msid="77385963" hostid="261" caption="&amp;lt;p&amp;gt;HDFC share price jumps 1.5% as markets open today morning&amp;lt;/p&amp;gt;"></div> The floor price for the equity shares has been set to ₹1,838.94 and the board of directors will meet again on August 10 to determine the issue price. In addition to the ₹14,000 crore, HDFC will also be issuing secured redeemable non-convertible debentures worth ₹9,000 crore. This is the third time in the last 12 years that HDFC is raising capital through such an offering. It did so once in 2009 and then again in 2015. HDFC's first full quarter in the face of the coronavirus pandemic saw a loss of 4.7% at the end of June. Its gross non-performing loans stood at ₹8,631 crore accounting for 1.87% of HDFC’s loan portfolio. The company already has ₹12,285 in the bank as provisions to serve as a cushion once the Reserve Bank of India’s (RBI) moratorium ends on August 31. It even added another ₹1,199 this quarter specifically for COVID related accounts. Despite having safeguards in place, many companies are going down the QIP route to shore up capital against the uncertainty of the coronavirus pandemic. This includes Kotak Mahindra Bank, Info Edge and — most recently to lay down its offering — <a href="https://www.businessinsider.in/finance/banks/news/axis-bank-finalises-10000-crore-share-sale-to-raise-funds-at-a-floor-price-of-442-19/articleshow/77354177.cms">Axis Bank for a whopping ₹ 10,000 crore</a>. Others either have approved fundraising plans on stand by or are in the process of putting out their own QIP. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/airtel-amazon-team-up-to-take-on-jio-microsoft-in-the-battle-for-indias-cloud-market/articleshow/77371744.cms">Airtel-Amazon team up to take on Jio-Microsoft in the battle for India’s cloud market</a> <a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-wants-25-30-of-its-employees-working-from-home-permanently-by-june-2021/articleshow/77346959.cms">INTERVIEW: Tech Mahindra wants 25-30% of its employees working from home permanently by June 2021 — CFO explains how they got to that number</a>

HDFC’s share price opened 1.5% higher after announcing ₹14,000 crore fundraising

New Delhi, Jun 20 () HDFC Bank on Saturday said its board has approved proposal to raise up to Rs 50,000 crore in the next twelve months by issuing various debt securities. The decision was taken at the board of directors meeting held on June 20, 2020, HDFC Bank said in a regulatory filing. "The Board of Directors has approved the issue of perpetual debt instruments (part of additional tier I capital), tier II capital bonds and long term bonds (financing of infrastructure and affordable housing) up to a total amount of Rs 50,000 crore," HDFC Bank said. The largest bank in the private sector said that it will raise the capital through in the period of next twelve months through private placement mode, subject to the approval of the shareholders at the ensuing annual general meeting (AGM) and any other regulatory approvals. The bank's 26th AGM will be held on July 18, 2020 through video-conferencing /other audio-visual means, it said. KPM BAL BAL

HDFC Bank board approves plan to raise Rs 50,000 cr via debt securities

Mumbai, Apr 18 () Despite expecting challenges to the Indian banking system because of the COVID-19 pandemic, global ratings agency Standard and Poor's feels HDFC Bank will be resilient and said that the country's sovereign rating restricts it from upgrading the country's largest private sector lender. It appreciated HDFC Bank's comfortable capitalisation, strong earnings, regular capital raising to fund above-average growth and the "best" asset quality in the system. The bank reported an 18 per cent increase in the March quarter to Rs 6,928 crore after provisioning Rs 1,550 crore for the impact of COVID-19 and losing Rs 450 crore in income due to the lockdown. Its asset quality also improved over the previous quarter with the gross non-performing asset (GNPA) ratio at 1.26 per cent. "The rating on HDFC Bank is capped by our sovereign credit rating on India (BBB-/Stable/A-3). The rating on the bank will therefore move in tandem with that on the sovereign," the rating agency said in a note. "We would raise our rating on HDFC Bank if we upgrade the sovereign," it added. They added that the agency does not rate Indian banks above the sovereign because of the direct and indirect influence that a sovereign has on banks operating in the country. S&amp;P feels Kotak Mahindra Bank will be the other lender that will be able to withstand difficulties on the asset quality during the challenging period. It expects the government to step in with support to the state-run lenders in case they experience any difficulties. AA HRS

India's sovereign rating restricting upgrade on HDFC Bank's ratings: S&P

<ul><li><keyword id="6426359" type="COMPANY" weightage="20" keywordseo="pnb-housing-finance">PNB Housing Finance</keyword> has announced a fundraise of ₹4,000 crore.</li><li>The fundraising will be led by The <keyword id="44803" type="COMPANY" weightage="20" keywordseo="Carlyle-group">Carlyle Group</keyword> and former <keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword> CEO <keyword id="6406769" type="COMPANY" weightage="20" keywordseo="aditya-puri">Aditya Puri</keyword>.</li><li>Shares of PNB Housing Finance hit the 20% upper circuit, reacting to the news.</li></ul>The board of non-banking lender PNB Housing Finance has approved a fundraising of ₹4,000 crore. Former HDFC Bank chief executive officer (CEO) Aditya Puri and US-based private equity firm The Carlyle Group have emerged as the leading investors. The government-owned Punjab National Bank (PNB), which owns a little over 32% stake right now, will continue to be a promoter and a key stakeholder of the company. PNB Housing Finance said each of QIH, Pluto and Salisbury Investments will be classified as part of the “promoter group” of the company, following the completion of the transactions under Pluto SSA and Salisbury SSA, respectively. Reacting to the news, shares of PNB Housing Finance went through the roof, hitting an upper circuit of 20% at around 10:10 am. <div type="image" title="PNB Housing Finance 15_04_21 to 31_05_21." msid="83106098" hostid="261" caption="&amp;lt;p&amp;gt;PNB Housing Finance share price&amp;lt;/p&amp;gt;"></div> According to the company’s exchange filing, private equity giant The Carlyle Group, will contribute to 80% of the ₹4,000 crore capital raise. The other prominent name in the fundraise is Aditya Puri’s Salisbury Investments. Puri is the former CEO and MD of HDFC Bank, India’s largest private sector bank, which also owns the country’s largest private mortgage lender HDFC. The company notes in its exchange filing that the primary objective of the fundraise is to augment the capital adequacy, reduce the ratio of debt to equity and fund its growth objectives in the retail lending segment. The equity issue is priced at ₹390 per share, which is a discount of nearly 11% over the previous closing price. This has triggered an open offer for acquisition of over 70 million shares, representing 26% of the company’s existing equity shares. The open offer price is quoted at ₹403.22 per share, which is at a discount of nearly 8% over the previous closing price. <cmsannotation type="cmsannotation" annotationid="Fundraising has been long overdue" comment="subhead" text="Fundraising has been long overdue">Fundraising has been long overdue</cmsannotation> The fundraising announcement is long overdue for the lender. Back in November 2020, the company had announced a fundraise of ₹1,800 crore via a preferential issue of shares. However, its plans were derailed as its parent Punjab National Bank was not permitted by the Reserve Bank of India to pour in the capital into its lending subsidiary. Later, in an analyst call in April 2021, PNB Housing Finance’s CEO and MD, Hardayal Prasad, said that the company is evaluating its options. “As you are aware that we were waiting for the capital raise with participation of PNB and ₹600 crore was earmarked since then. But after, the permission was not given. So, we have initiated the process of evaluating all options and modes for the fundraise,” said Prasad. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/from-bhel-to-heg-and-cg-power-these-infrastructure-stocks-have-turned-10000-to-as-much-as-30600-in-just-six-months/slidelist/83104471.cms">From BHEL to HEG and CG Power ⁠— these infrastructure stocks have turned ₹10,000 to as much as ₹30,600 in just six months</a> <a href="https://www.businessinsider.in/business/startups/news/online-broker-zerodhas-valuation-has-doubled-from-1-billion-to-2-billion-within-a-years-time/articleshow/83037425.cms">Zerodha doubles its valuation to $2 billion within a year as millennials plough India’s stock markets</a>

Former HDFC Bank CEO Aditya Puri and Carlyle will be among the new owners of PNB Housing Finance triggering an open offer

New Delhi, Mar 12 () Local high networth individuals and leading financial institutions have evinced interest in putting money in crisis-hit Yes Bank, analysts said on Thursday. There is lot of interest in putting money into Yes Bank because now the real value will be unlocked as the stock price has already reached Rs 26 apiece, IIFL Securities Director Sanjiv Bhasin said. There is a mixed bag of local investors, mutual funds, AMCs,HNIs alongside ICICI and HDFC, he said further. "There is ICICI, HDFC, then there are individual HNIs like Radhakishan Damani (Dmart), Rakesh Jhunjhunwala and some mutual funds," Bhasin added. Yes Bank's administrator Prashant Kumar, a former SBI executive, has said that the lender is in talks with various investors to raise capital. Yes Bank was superseded by the RBI last Thursday under an administrator after it failed to raise capital. The troubled lender will announce its third quarter results for December 2019 on Saturday and analysts expect that there will be deterioration in bank's asset quality. "I think there will be deterioration in the asset quality, slippage would be higher, their core equity capital is expected to go below what RBI mandates," said an analyst on the condition of anonymity. The bank may post a loss of Rs 1,000 crore during October-December 2019-20 quarter, an analyst commented. Emkay Global Financial Services said: "We expect Yes Bank to report a loss of Rs 778 crore, mainly due to recognition of heavy corporate NPAs from its stress pool including ADAG NBFC, some real estate acounts and pending NPA provisioning for FY19." Emkay said it believes that SBI stake buy in Yes Bank will provide immediate capital support in the phase 1 of restructuring and also ensure continued support in the future capital raise with SBI being an anchor investor. "Apart from capital support, SBI holding stake in the bank will soothe depositors, as otherwise Yes Bank has been witnessing sharp deposit run down. However, we believe apart from capital infusion, bank will have to strip-off assets to further release capital and also rake up internal liquidity to pay-off depositors, where SBI can provide a pivotal role in buying these assets," it added. Bhasin said it has to be seen how much asset quality deterioration will be there on the results day. "Once we know that...recapitalisation, you know there is Rs 20,000 crore coming as far as capital (is concerned) and Rs 30,000 crore as deposits to allay all investors' negativity, so that is all presumption." As per the bank's reconstruction plan, SBI has committed Rs 2,450 crore investment through an acquisition of 49 per cent equity in Yes Bank, which remains in moratorium till April 3, as bank's capital condition has jeopardized. Yes Bank over the last over one year has failed to raise enough capital under the new leadership of Ravneet Singh Gill, who took charge as the managing director and CEO from March 1, 2019. Troubles at new-generation private sector started brewing up ever since the Reserve Bank denied extension to its co-founder Rana Kapoor -- who now is in the custody of the Enforcement Directorate on charges of financial mismanagement and money-laundering -- to continue as MD and CEO in September 2018, and had asked the lender to find a new successor. Yes Bank shares closed at Rs 25.05 on BSE, down 13.02 per cent from the previous close. KPM MR

Local HNIs, financial institutions keen to invest in Yes Bank, say analysts

<ul><li><keyword id="6426359" type="COMPANY" weightage="20" keywordseo="pnb-housing-finance">PNB Housing Finance</keyword>’s share price has skyrocketed over the last 10 trading days. </li><li>Every ₹10,000 invested in the stock on May 25 is now worth ₹22,000 as on June 7, 2021. </li><li>However, the potential upside could be limited from the current share price. </li></ul>Shares of PNB Housing Finance have hit the upper circuit six days in a row, more than doubling investor wealth. Had an investor put in ₹10,000 in the stock on May 25, 2021, it would be worth nearly ₹22,000 today. The incessant rally in PNB Housing Finance’s shares was triggered by the news of former <keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword> chief executive officer (CEO) <keyword id="6406769" type="LOCATION" weightage="20" keywordseo="aditya-puri">Aditya Puri</keyword> and US-based private equity firm The <keyword id="44803" type="COMPANY" weightage="20" keywordseo="Carlyle-group">Carlyle Group</keyword> investing in the non-banking lender. <div type="Article" hostid="261" msid="83105948" title="Former HDFC Bank CEO Aditya Puri and Carlyle will be among the new owners of PNB Housing Finance triggering an open offer" mstype="2" mssubtype="0"></div> <div type="image" title="PNB Housing Finance 25_05_21 to 07_06_21." msid="83306222" hostid="261" caption="&amp;lt;p&amp;gt;PNB Housing Finance share price&amp;lt;/p&amp;gt;"></div> Over the last 10 trading sessions, the non-banking lender’s share price has surged by over 118%. The company’s shares have been locked in the upper circuit for the last six consecutive days. But the upside could be limited, according to Kranthi Bathini, director of equity strategy at WealthMills Securities. “There has been a sharp run-up in the share price of PNB Housing Finance over the last few trading sessions. This could mean the potential upside now is limited,” Bathini told Business Insider. “The recent investment news has turned it into a momentum stock. The rally in share prices of such stocks is driven by news, and not necessarily the technicals and fundamentals,” he further added, linking the sharp rally in PNB Housing Finance’s share price to the ₹4,000 crore fundraising news. According to the company’s exchange filing, private equity giant The Carlyle Group will contribute to 80% of the ₹4,000 crore capital raise. The other prominent name in the fundraise is Aditya Puri’s Salisbury Investments. Puri is the former CEO and MD of HDFC Bank, India’s largest private sector bank, which also owns the country’s largest private mortgage lender HDFC. The company noted in its exchange filing that the primary objective of the fundraise is to augment capital adequacy, reduce the ratio of debt to equity and fund its growth objectives in the retail lending segment. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/former-hdfc-bank-ceo-aditya-puri-and-carlyle-will-be-among-the-new-owners-of-pnb-housing-finance-triggering-an-open-offer/articleshow/83105948.cms">Former HDFC Bank CEO Aditya Puri and Carlyle will be among the new owners of PNB Housing Finance triggering an open offer</a> <a href="https://www.businessinsider.in/stock-market/news/from-bhel-to-heg-and-cg-power-these-infrastructure-stocks-have-turned-10000-to-as-much-as-30600-in-just-six-months/slidelist/83104471.cms">From BHEL to HEG and CG Power ⁠— these infrastructure stocks have turned ₹10,000 to as much as ₹30,600 in just six months</a> <a href="https://www.businessinsider.in/business/startups/news/online-broker-zerodhas-valuation-has-doubled-from-1-billion-to-2-billion-within-a-years-time/articleshow/83037425.cms">Zerodha doubles its valuation to $2 billion within a year as millennials plough India’s stock markets</a>

PNB Housing Finance shares hit upper circuit six days in a row, but the potential upside could be limited now

In what could be India’s biggest land sale, over 4,700 acres owned by the <keyword id="31906" type="COMPANY" weightage="100" keywordseo="Sahara-group">Sahara Group</keyword> across 14 Indian states have been put on the block by HDFC Realty and SBI Capital Markets. As the sale goes through, the deal is expected be worth Rs 6,500 crore. However, the fact that the properties have huge chunks of agricultural land located in rural areas could affect the amount of the deal. 
 
As per Sahara, it has a total land bank of 33,633 acres out of which the Aamby Valley City located near Lonavala accounts for 10,600 acres. Similarly, about 1,000 acres is spread across various towns and cities of Uttar Pradesh, the capital of which houses the company headquarters. 
 It was early this month that the honourable Supreme Court had released Sahara chief <keyword id="31933" type="PERSON" weightage="100" keywordseo="Subrata-Roy">Subrata Roy</keyword>, who has been in Tihar Jail since March 2014, and group director Ashok Roy Choudhary on a parole for four weeks. It was then that the court had said that Sahara could sell its properties to raise Rs 5,000 crore as a bank guarantee and another Rs 5,000 crore to get bail. 
 After this order, the market regulator authority Securities and Exchange Board of India (SEBI) had mandated that HDFC Realty and SBI Capital Markets auction 60 <keyword id="2065987" type="UNKNOWN" weightage="100" keywordseo="Sahara-properties">Sahara properties</keyword> across the country. 
 
 
The locations of these lands are as follows: Ujjain and Indore in Madhya Pradesh, Ajmer in Rajasthan, Aligarh, Bahraich, Bareilly, Muzaffarnagar, Lucknow, Noida in UP, Guwahati in Assam, Salem in Tamil Nadu, and Porbander and Baroda in Gujarat. 
 
<a href="http://i.huffpost.com/gen/4312180/images/o-SUBRATA-ROY-facebook.jpg">Image source</a>

Auctioneers expect to raise Rs 6,500 crore by selling 4,700 acres of Sahara land

The country's largest private sector lender <keyword id="6357149" type="General" weightage="100" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword> on Thursday announced that it has raised USD 750 million through a dollar bond sale. The bank said it will be paying a coupon of 5.686 per cent for the three year bonds, according to an exchange filing. The paper, rated Baa3 by Moody's Rating Services and Bbb by S&amp;P, will be listed on the India International Exchange, it said. The USD denominated senior unsecured instruments will be redeemed on maturity in March 2026. The <keyword id="45123" type="General" weightage="20" keywordseo="hdfc" source="Orion">HDFC</keyword> Bank scrip had closed 0.69 per cent down at Rs 1,603.35 a piece on the BSE on Thursday, as against a 0.23 per cent correction on the benchmark. SEE ALSO: <a href="https://www.businessinsider.in/tech/gadgets/news/mapmyindia-launches-gps-trackers-smart-helmet-kits-dash-cam-and-more-starting-at-2990/articleshow/98177325.cms">MapmyIndia launches GPS trackers, smart helmet kits, dash cam, and more starting at ₹2,990</a> <a href="https://www.businessinsider.in/tech/gadgets/news/noise-and-fire-boltt-entered-in-top-five-in-global-smartwatch-shipments/articleshow/98171390.cms">These two Indian brands have together sold more smartwatches than Samsung in 2022</a> <a href="https://www.businessinsider.in/business/news/mukesh-ambanis-jiocinema-to-take-on-disney-hotstar-and-amazon-prime-with-free-4k-ipl-streaming/articleshow/98150380.cms">Mukesh Ambani’s JioCinema to take on Disney+ Hotstar, and Amazon Prime with free 4K IPL streaming</a>

HDFC Bank raises $750 million in dollar bond sale

Mumbai, Jul 11 () Banks need to raise capital on anticipatory basis to build up adequate capital buffers to mitigate risks arising out of coronavirus outbreak, RBI Governor Shaktikanta Das said on Saturday. He said building buffers and raising capital will be crucial not only to ensure credit flow but also to build resilience in the financial system. "In such a situation, it has become a lot more important that the banks have to improve their governance, sharpen their risk management skills and banks have to raise capital on an anticipatory basis instead of waiting for a situation to arise. "Proactively, it is necessary for both public and private sector banks to build up adequate capital buffers," Das said at SBI's banking and economic conclave. The economic impact of the pandemic - due to lock-down and anticipated post lock-down compression in economic growth - may result in higher non-performing assets and capital erosion of banks, he said. A recapitalisation plan for public sector and private banks has, therefore, become necessary, he added. For the five years - between 2015-16 and 2019-20 - the government had infused a total of Rs 3.08 lakh crore in public sector banks. However, the government refrained from committing any capital in the Budget 2020-21 for the PSBs, hoping that the lenders will raise funds from the market depending on the requirement. Many private and public sectors such as State Bank of India, PNB, HDFC Bank, ICICI Bank, and Canara Bank are looking to raise capital through various means this fiscal. The governor also asked banks and non-banking finance companies (NBFCs) to conduct stress test to analyse the impact of COVID-19 on their balance sheets and prepare a plan for any possible risk. The RBI has recently (June 19 and July 1, 2020) advised all banks, non-deposit taking NBFCs (with an asset size of Rs 5,000 crore) and all deposit-taking NBFCs to assess the impact of COVID-19 on their balance sheet, asset quality, liquidity, profitability and capital adequacy for the financial year 2020-21, Das said. "Based on the outcome of such stress testing, banks and non-banking financial companies have been advised to work out possible mitigating measures, including capital planning, capital raising, and contingency liquidity planning, among others," he added. The idea is to ensure continued credit supply to different sectors of the economy and maintain financial stability, the governor noted. The global financial crisis of 2008-09 and the COVID-19 pandemic have dispelled the notion that tail risks to the financial system will materialise only rarely, Das added. "Shocks to the financial system dubbed as 'once in a lifetime events' seem to be more frequent than even 'once in a decade'," he said. Accordingly, the minimum capital requirements of banks, which are calibrated based on historical loss events, may no longer be considered sufficient enough to absorb the losses, he noted. Meeting the minimum capital requirement is necessary, but not a sufficient condition for financial stability, he said, adding "hence, it is imperative that the approach to risk management in banks should be in tune with the realisation of more frequent, varied and bigger risk events than in the past". Das said banks and financial intermediaries have to be ever vigilant and substantially upgrade their capabilities with respect to governance, assurance functions and risk culture. HV BAL BAL

Banks need to raise capital on anticipatory basis: RBI Governor

New Delhi, Mar 16 () Mortgage lender HDFC will pick up 7.97 per cent stake in Yes Bank for a Rs 1,000 crore capital infusion in the cash-strapped lender.On March 14, Yes Bank allotted 100 crore shares of face value of Rs 2 each to the Corporation aggregating to 7.97 per cent of the post issue equity share capital of Yes bank, HDFC said in a regulatory filing on Monday.The allotment of shares comes "after giving effect to the allotment of shares to State Bank of India, the Corporation, ICICI Bank, Axis Bank, Kotak Mahindra Bank, Federal Bank, Bandhan Bank and IDFC First Bank ," it said.On Friday, HDFC said it is investing in 100 crore equity shares of Rs 2 each in Yes Bank for a consideration of Rs 10 per share (including Rs 8 premium) for an aggregate consideration of Rs 1,000 crore.As per the scheme of reconstruction of Yes Bank, 75 per cent of the total investment by the Corporation would be locked in for 3 years, HDFC had said.SBI has invested Rs 6,050 crore in crisis-ridden Yes Bank.ICICI Bank, Housing Development Finance Corporation (HDFC), Axis Bank, Kotak Mahindra Bank, Bandhan Bank, Federal Bank and IDFC First Bank have also joined the SBI-led consortium and invested in Yes Bank.Axis Bank will invest Rs 600 crore by buying 60 crore shares and Kotak Mahindra Bank will infuse Rs 500 crore after purchasing 50 crore shares. KPM KPM ANUANU

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HDFC Bank is beefing up capital and provision to cushion a spike in bad loans post moratorium — and that’s helping its share price

Prabhjote Gill