HDFC & HDFC Bank's market value eroded Rs 2.58 lakh crore
By MYBRANDBOOK
Both financial giants HDFC Bank and HDFC are witnessing tough times in the share market. The HDFC Bank's market value has eroded by Rs 1.67 lakh crore in the nine-day selloff and the bank's market value stands at Rs 7,51,421 crore.
While, mortgage lender HDFC, has lost another Rs 91,595 crore in market value to Rs 3,94,097 crore from Rs 4,85,692 crore. The HDFC twins are the third most-valued, with TCS at Rs 12,89,011 taking the second spot and Reliance Industries at Rs 17,81,205 at the top.
Both stocks now commanded a combined market value of Rs 11.45 lakh crore compared with about Rs 14 lakh crore. Their combined value erosion of Rs 2.58 lakh crore is more significant than the market capitalisation of Bajaj Finserv, i.e., Rs 2.51 lakh crore.
Shares of HDFC bank have been down -17.96 percent since early this month, while shares of HDFC Ltd are down by -19.41 percent. As far as the merger between HDFC and HDFC Bank is concerned, 42 shares of HDFC Bank would be given for every 25 shares of HDFC. It is expected that the deal would take 18 months to go through.
HDFC Bank has reported a 22.8% yearly jump in standalone net profit during the fourth quarter of the financial year 2021-2022 to Rs 10,055.20 crore on the back of a 29% dip in bad loan provisioning during the period.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Alpha Max offers high end solutions in the network space to en
The vision at Alpha Max is to attain quality as the trademark and create a
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
RELIANCE JIO INFOCOMM LTD.
INFOSYS TECHNOLOGIES PVT. LTD.
ADITYA INFOTECH LTD.
VVDN TECHNOLOGIES
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : ROSHNI NADAR MALHOTRA
Roshni Nadar Malhotra is the Chairperson of HCLTech, a leading global ...
Icons Of India : Kumar Mangalam Birla
Aditya Birla Group chairman Kumar Mangalam Birla recently made a comeb...
Icons Of India : Arundhati Bhattacharya
Arundhati Bhattacharya serves as the Chairperson and CEO of Salesforce...
PARTNER SPEAKERS
PSU
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
HPCL - Hindustan Petroleum Corporation Ltd.
HPCL is an integrated oil and gas company involved in refining, market...
TCIL - Telecommunications Consultants India Limited
TCIL is a government-owned engineering and consultancy company...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Rajiv Ramaswami, President & CEO, Nutanix Technologies
Rajiv Ramaswami, President and CEO of Nutanix, brings over 30 years of...
Indian Tech Talent Excelling The Tech World - Aneel Bhusri, CEO, Workday
Aneel Bhusri, Co-Founder and Executive Chair at Workday, has been a le...
Indian Tech Talent Excelling The Tech World - REVATHI ADVAITHI, CEO- Flex
Revathi Advaithi, the CEO of Flex, is a dynamic leader driving growth ...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
