HDFC

HDFC MF acquires Morgan Stanley’s 8 schemes

HDFC MF acquires Morgan Stanley’s 8 schemes

HDFC Mutual Fund on Monday announced that it has acquired all the schemes of Morgan Stanley Mutual Fund in India, expanding its mutual fund customer base in the promising Asian market.

The average combined assets under management of the portfolio of eight schemes for the three-month period ended September 30, 2013 was Rs 3,290 crores. On the other hand, HDFC MF had assets of more than Rs 1 lakh crore as of September 30.

Money Laundering Case: RBI Initiating Action against ICICI, HDFC and Axis Banks

Money Laundering Case: RBI Initiating Action against ICICI, HDFC and Axis Banks

It was in last month that online portal named as Cobrapost took the names of the three banks, ICICI bank, HDFC Bank and Axis Bank for indulging in the act of money laundering.

The online portal said that they exposed these banks by carrying out a sting operation. Their investigation revealed that there were some bank officials who offered to launder unaccounted money in insurance schemes.

HDFC Notifies 20% Hike In its Net Profit

HDFC Notifies 20% Hike In its Net Profit

Renowned Housing Development Finance Corp. Ltd., credits to be the top most Indian mortgage company on the parameters of assets. On Monday, the company has experienced around 20% hike in its net profit and touched Rs 971 crore, for figures compiled for the second quarter, ended on September 30.

HDFC Plans to Launch IPO only after Confirmation with Std. Life

HDFC Plans to Launch IPO only after Confirmation with Std. LifeHDFC Chairman, Deepak Parekh announced that they are planning to have insurance plans with IPO (initial public offering) in two years.

HDFC expects loan growth of 20% in FY12

HDFC expects loan growth of 20% in FY12Country’s leading mortgage lender HDFC seems to be not affected by increasing interest rates. During existing FY 2011, HDFC recorded its loan growth at 20% year-on-year basis.

The company has not seen any restriction on loan growth and expenses, said by HDFC’s vice-chairman and CEO Keki Mistry. They also said that difference lies in the rates at which money is borrowed and lent.

FD, lending rates raised by HDFC

FD, lending rates raised by HDFC

For all those who believe in getting money from fixed deposits (FD), there is good news. HDFC decided to raise the interest rate on the FDs that are going to be for 45 days or more. Rise is going to be around 100 basis points.

But with this the bank has also announced the increase in the lending rates that is going to make auto and personal loans even costlier. It is going to be around 75 basis points and will be applicable from Monday itself.

Home loan EMIs set to jump as banks hike rates

Home loan EMIs set to jump as banks hike rates

There is a rise in the loaning and put down charge with most banks set to increase. The monthly budget is to be modified as it is the proper time.

There will be growth in the loaning charges from 50 point to 75 point as declared by the HDFC housing finance firm after a day and set the ball rolling. There is hike in loaning and deposit rates of ICICI Bank who is the country's second largest loaner.

HDFC reintroduces teaser rates on home loans to take on SBI

HDFC reintroduces teaser rates on home loans to take on SBI

HDFC has reintroduced teaser rates on its home loans as they are faced with a steep competition from State Bank of India, The new home loan product offers a fixed rate of 8.25% till March 2011 and 9.25% for the next 12 months to the borrowers. The prevailing home loan rates will come into effect from April 2012.

The special schemes as well as the prime lending rates of the bank won’t change due to the hike though HDFC had announced its revised rates ahead of the rate hike.

SEBI bans HDFC dealer for false dealings

SEBI bans HDFC dealer for false dealings

The Securities and Exchange Board of India or SEBI has banned a HDFC Asset Management equity dealer for leaking information on the proposed trade move of their company to three other companies.

The companies which were involved in the situation will no longer be allowed to make transactions in the stock market till the incident has been investigated. Regulators in the market were aware of the moves of the HDFC AMC’s dealer Nilesh Kapadia. Dipti Paras, Rajiv Ramniklal Sanghvi and Chandrakant P Mehta orgered the same set o stocks just before the stocks were sold by Nilesh Kapadia.

HDFC net profits see 26% increase

HDFC net profits see 26% increase

HDFC has estimated its net profits for the fourth quarter of the financial year to be Rs 926.4 Crore in comparison to last years Rs 733.4 Crore. The Housing Development Finance Corp saw an increase of 26%.

HDFC had a 9.5% drop in its total income's even though it had seen a considerable profit.

The net income this year was Rs 2,847 Crore from Rs 3,146 Crore in March 2009.