India’s largest mortgage financier may remain a shadow lender, despite a central bank proposal for large non-banking finance firms to become full-fledged banks. “In terms of remaining a large non-banking finance company, that option is very very much on the table,” Housing Development Finance Corp. Vice Chairman and Chief Executive Officer Keki Mistry, said in an interview with Bloomberg TV on Thursday. “We will obviously have to look at the regulations and then take a call. We are very comfortable, we stand the way we are and we believe we would.” In November, a Reserve Bank of India panel recommended that large shadow lenders may be considered for conversion into banks after 10 years of operations, as authorities continue to nurse the sector that’s going through a prolonged cash crunch.
Indian shares hit record highs after services sector improves in January
marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.
Message :
Required fields
BENGALURU (Reuters) - Indian shares ended at record closing highs on Wednesday, extending a post-budget rally on gains in financial stocks after a survey showed that the country s dominant services sector picked up in January.
The NSE Nifty 50 index rose 0.97% to 14,789.95, while the benchmark S&P BSE Sensex was up 0.92% at 50,255.75. Both the indexes touched record intra-day highs earlier in the session after rising as much as 1.5% and 1.46% respectively.
The Nikkei/IHS Markit Services Purchasing Managers Index rose to 52.8 in January from 52.3 in December, staying above the 50-level mark separating growth from contraction for the fourth straight month.
Sensex Jumps over 550 Points to Hit All-time High After Services Sector Improves
FOLLOW US ON:
Indian shares hit record highs on Wednesday and extended their post-budget rally, after a survey showed the country’s dominant services sector picked up in January as demand improved.
The NSE Nifty 50 index rose 1.07% to 14,804.05 by 0515 GMT, while the benchmark S&P BSE Sensex was up 1.01% at 50,298.31. Both Nifty and Sensex touched all-time highs after rising 1.2% and 1.1%, respectively.
The Nikkei/IHS Markit Services Purchasing Managers’ Index rose to 52.8 in January from 52.3 in December, although firms continued to shed jobs.
The Nifty Pharma index was up 3.2%, led by gains in Dr.Reddy’s after a report said Russia’s Sputnik V COVID-19 vaccine would be granted emergency use authorization in India soon. The drugmaker has a partnership with the Russian Direct Investment Fund to distribute the vaccine in India.
HDFC Q3 results: Net profit drops 65% to Rs 2,926 cr, revenue falls 42%
SECTIONS
Last Updated: Feb 02, 2021, 10:59 PM IST
Share
Synopsis
HDFC said, on a like-to-like basis, the company’s net profit was at Rs 3,694 crore as against Rs 2,908 crore in the year-ago quarter.
HDFC Q3 results: Net profit falls 65% to Rs 2,926 crore, revenue declines by 42%
Related
NSE
Explore Now
MUMBAI: Housing Development Finance Corp reported a 65 per cent year-on-year decline in net profit for the quarter ended December to Rs 2,925.8 crore. The company’s total revenues fell 42.3 per cent to Rs 11,707 crore.
However, the company said that earnings for the December quarter was not comparable with the previous quarter as it included the earnings of Gruh Finance. HDFC said, on a like-to-like basis, the company’s net profit was at Rs 3,694 crore as against Rs 2,908 crore in the year-ago quarter.
vimarsana © 2020. All Rights Reserved.