Stocks closed lower on Friday as Reliance Industries, HDFC Bank, and Infosys weighed on the benchmarks. Yet a handful of names bucked the trend. Yes Bank rose on expectations of new funding, CG Power gained after launching OSAT, and Relaxo Footwear surged amid renewed optimism around GST developments.
HDFC Bank delivered a strong FY26 with net profit up 10.9% to Rs 74,700 crore, backed by 12.1% loan growth, steady deposits, and best-in-class asset quality. Even after recent governance-related headlines and leadership changes, CreditSights expects no meaningful impact on the bank’s credit profile or stability. Gross NPAs eased to 1.15% and CET1 stayed robust at 17.3%.
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JioBlackRock Mutual Fund, newly launched, reported Rs 15,258 crore AUM in March. HDFC Bank and ICICI Bank lead its holdings, while the portfolio also includes Bharti Airtel, Reliance Industries, Infosys, and ITC. Prime Database data shows how quickly the fund has built a diversified mix spanning banking, telecom, energy, IT, and consumer stocks.
HDFC Bank has alerted customers after card swipes were linked to overseas capital account transactions. The move comes as some residents used cards to make international transfers while unaware they could be violating foreign exchange and banking regulations. Reports suggest certain customers may have done it to dodge TCS or sidestep limits on overseas forex remittances.
Stocks ended a turbulent session lower as soaring crude prices and a hawkish Federal Reserve rattled risk appetite. Against this backdrop, individual movers stood out, with HDFC Bank, Adani Total Gas, and Infosys seeing notable share action. Sector-wide selling in autos and IT compounded pressure, widening the gap between gainers and losers.
Indian markets rebounded on Monday, with the Nifty jumping 257 points. HDFC Bank, Bajel Projects, and Tejas Networks led the gains, while IDBI Bank, Bandhan, Fino Payments Bank, and Adani Total Gas saw sharp declines. Corporate news and shifting investor sentiment appear to have driven the dramatic stock moves.
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ICICI Bank’s sharp drop in provisioning is being read as a sign of improving asset quality and a sturdier recovery pipeline. HDFC Bank, however, is taking a more cautious approach, focusing on protecting profitability and asset quality amid macroeconomic headwinds. It also plans to gain deposit market share, targeting faster deposit growth than credit growth.
HDFC Bank’s chair exit has triggered fresh calls for accountability, with experts urging the formation of a committee of independent directors to examine what led to the move. The push suggests concerns about governance clarity and potential internal disagreements, while others frame it as a chance to reset leadership priorities and strengthen oversight.
HDFC Bank’s interim chairman Keki Mistry, 71, is attempting to calm jittery investors and customers by leaning heavily on personal credibility after the abrupt exit of his predecessor. The move signals a push to restore confidence in the bank’s leadership and stability, as the institution faces heightened scrutiny and the need to reset trust quickly.
HDFC Bank’s larger balance sheet could translate into bigger loan disbursals after the merger, while costs may fall due to recent regulatory streamlining. Updated reporting and delinquency provisioning rules for banks and non-bank finance companies are expected to reduce friction. HDFC’s focus on affordable housing and micro-lending can also help align its loan book with HDFC Bank’s development finance requirements.
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