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HDB

HDFC Bank Limited

5/23/2013, 12:36 AM ET

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Friday, January 18, 3:33 AM HDFC Bank (HDB): FQ3 net profit +30% to 8.59B rupees ($345M) vs consensus of 18.49B rupees. Net interest income +22% to 37.99B rupees. Other income, including fees, commissions and gains from trading, +27% to 17.99B rupees. Shares -1.3% in Bombay. Comment! [Earnings, Financials]
Thursday, April 12, 2012, 11:08 AM The RBI is expected to launch the first rate-cutting cycle in India in 3 years at its April 17 meeting, but a 25 basis point move would be little more than symbolic, argues Jeff Glekin. With the central government in "policy meltdown," it's up to the central bank to go for bold stimulus with aggressive rate cuts. EPI +23% YTD, but -21% Y/Y. Comment! [Global & FX]
Tuesday, July 26, 2011, 7:11 AM The RBI raises its benchmark rate 50 basis points to 8%, the 11th hike this cycle, and greater than the forecast 25 point jump. The bank also lifts its forecast inflation rate for March 2012 100 bps to 7%. Indian shares defy a world-wide stock rally, -1.9%. Comment! [Global & FX]
Tuesday, May 17, 2011, 7:52 AM Indian shares -1.13%, led by a sharp decline in State Bank of India after the country's largest lender reports a 99% fall in Q4 profit. Much of the drop is related to extra provisions set aside to cover possible losses "teaser rate" mortgages. Shares -8.9% in Mumbai. Comment! [Global & FX]
Tuesday, May 3, 2011, 7:15 AM The RBI hikes more than expected, raising its benchmark lending rate 50 basis points to 7.25%. Even after a series of increases, real rates remain negative as inflation is running near 9%. Banking shares take a hit. HDB -2.4%, IBN -2.8% in Mumbai. Comment! [Global & FX]
Wednesday, March 30, 2011, 12:12 PM Despite powerful economic growth, vast wealth disparities and recent corruption scandals leave India with a sense something is amiss. A message from the U.S. ... get used to it. Indian shares are in the midst of a powerful rally since falling early this year. Some India ETFs. 1 Comment [Global & FX]
Thursday, March 17, 2011, 7:34 AM India hikes interest rates for the 8th time in the last year, raising its benchmark 25 basis points to 6.75%. In an ominous statement the RBI says, "The underlying inflationary pressures have accentuated, even as risks to growth are emerging." India -1.1%. 1 Comment [Global & FX]
Tuesday, March 1, 2011, 7:15 AM Indian shares stage a reversal, with the Sensex +3.5%, cutting YTD losses to about 12%. Nothing major in the news - the PMI shows solid growth and investors continue to digest Monday's budget announcement. Premarket: EPI +2.1%. TTM +5.4% in Mumbai. Comment! [Global & FX]
Thursday, February 24, 2011, 7:46 AM Indian shares have lost 14% YTD after last night's 3% slide, the largest fall since 2009. A report shows farm product prices rising 11.5% Y/Y, and spiking oil won't ease inflation concerns. Premarket: IFN -1.8%. [TTM]] -4.0%. In Mumbai, IBN -5.4%. Comment! [Global & FX]
Tuesday, February 8, 2011, 7:27 AM India continues to deal with the "triple whammy" of higher inflation, rising interest rates, and lower growth. After falling another 1.45% last night the Sensex is down 13.4% YTD. ICIC Bank (IBN) -2.98% in Mumbai. Premarket: EPI -1.0%. Comment! [Global & FX]
Friday, February 4, 2011, 7:22 AM Markets price in another rate hike as Indian PM Singh warns, "inflation poses a serious threat to (growth and) needs to be tackled with great urgency." Inflation in India is running at 8.4%, including 17% for food. India -2.4%. Premarket: EPI -1.8%. PIN -1.1%. Comment! [Global & FX]
Tuesday, January 25, 2011, 11:11 AM Slowing growth, high inflation, and a wave of corruption scandals turn fund managers bearish on India, according to a Morgan Stanley survey. Stocks falling 6% since the start of the year and nearly 10% since November probably didn't help attitudes. 1 Comment [Global & FX]
Tuesday, January 25, 2011, 7:16 AM Increasing its inflation forecast from 5.5% to 7%, the RBI raises its key lending rate 25 basis points to 6.5%. "Inflation is the dominant concern ... the reversal in (its) direction is striking," says RBI chief Subbarao. India -0.95%. Premarket: [IBN] -2.4%. Comment! [Global & FX]
Friday, January 14, 2011, 8:36 AM Stocks and bonds continue to fall and the rupee weakens in India as inflation accelerates to 8.43%. An increase in lending rates could come at the central bank's next meeting on January 25. India -1.7%. Comment! [Global & FX]
Thursday, January 13, 2011, 1:03 PM Indian stocks fall another 1.8%, leaving the index 8.6% below its November high. The issue: 6 rate hikes in 2010 look to be slowing the economy, but not braking inflation. More aggressive rate hikes could be in store in 2011, just as the economy enters "the weakest point in the cycle." Comment! [Global & FX]
Thursday, January 6, 2011, 11:24 AM India's banking system is facing a cash shortage, prompting banks to raise their deposit rates and invest more heavily in safer, lower-yield assets. Margins will likely take a hit, and even better-insulated private banks are trading down: HDB -3.1%, IBN -3.6%. Comment! [Global & FX]