Sensex sprints 1,335 points, Nifty tops 18,050; HDFC twins jump up to 10%

CLOSING BELL: Besides, Kotak Bank, HUL, IndusInd Bank, Tata Steel, L&T, and Sun Pharma were the other top gainers

12:50 PM

HDFC off day's high, still up 8 per cent

HDFC had zoomed to a high of Rs 2,855 post in intra-day trades this morning post announcement of the merger with HDFC Bank. The stock continues to trade with solid gains, albeit off the day's high.

12:43 PM

Adani Total Gas hits new lifetime high; stock zooms 50% since March

The stock was up 16 per cent in past six trading sessions after the company announced its foray into electric mobility infrastructure sector. READ MORE

12:32 PM

VOLUME BUZZERS:: HDFC Group shares witness massive jump in volume

HDFC Bank has witnessed over 12-fold jump in volume, while HDFC has recorded near 6-fold jump in trading volume so far on Friday. HDFC Life, KPIT Technologies and Godrej Agrovet were the other stocks with unusually high volume.

12:23 PM

BSE 500:: Fall from intra-day high

Relaxo Footwear shed nearly 14 per cent from the high's of the day. HDFC Godfrey Phillips, HDFC Bank and HDFC AMC too shed considerable ground from the respective high's of the day.

12:12 PM

Motilal Oswal gives 'buy' call for HDFC Bank, pegs target price at Rs 2,000

Shares of HDFC and HDFC Bank rose as high as 14 per cent and 11 per cent, respectively, during the opening session on Monday. READ MORE

12:05 PM

HDFC-HDFC Bank merger will bring credit inflow into the economy: HDFC Chairman

>> The merger will lead to significant synergies of combined entities and returns to shareholders

>> The merger willl benefit lower cost of funds, enhance market share, and leverage distribution

>> Value of HDFC will not be suppressed due to holding companies

>> The proposed merger will bring greater inflow of credit into the economy

>> Access to housing companies will improve due to lower cost of funds 

12:04 PM

BSE 500:: Top losers so far in the day

Poly Modicure, Ruchi Soya, Team Lease, GHCL and Birla Corporation were the top losers so far in the day.

11:56 AM

HDFC, HDFC Bank contribute more than 950 points to the BSE Sensex rally so far

11:50 AM

Investor wealth jumps over Rs 3 trn, 416 stocks breach upper circuit

Investors turned wealthier by more than Rs 3 lakh crore in the first hour of trading on Monday as equities rallied on the proposed merger of HDFC Ltd with HDFC Bank. READ MORE HERE

 

11:50 AM

BSE 500:: Top gainers so far in the day

HDFC, HDFC Bank along with PTC India, Godrej Agrvet, P&G Healthcare were the top gainers so far in the day.

11:44 AM

HDFC, HDFC Bank merger: Analysts see banking industry consolidating

The merger of HDFC and HDFC Bank can trigger a consolidation in the banking industry, feel analysts. Barely a few days after Axis Bank took over the Indian consumer business of Citibank, India's largest private lender HDFC Bank announced that it will merge with housing finance firm HDFC Ltd. READ MORE HERE

11:38 AM

HDFC-HDFC Bank merger: VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The merger of HDFC with HDFC Bank is an unprecedented mega-merger which will benefit all stakeholders. The shareholders of both entities stand to benefit substantially as already reflected by the sharp up moves in their stock prices. For shareholders, this is far better than a buyback at higher prices. This mega-merger will correct the recent underperformance of the HDFC twins. The stock prices of HDFC twins are likely to remain firm even after this morning's sharp spike. From the valuation perspective, the HDFC twins are even now only attractively priced in a highly valued market. FPI's strategy of sustained selling in HDFC twins has been proved to be a short-sighted decision. The merged entity will gain from the synergies of the merger. The mortgage business will gain from the low-cost funds of the bank and the bank will gain from HDFC's competence in mortgage lending. The Indian economy will benefit from larger investment by the merged entity in large infra projects. India will have a large global bank. 

 

11:35 AM

HDFC-HDFC Bank merger: Ajit Kabi, Banking Analyst at LKP Securities

>> We expect the technological platform to be well synchronized and shall enable the bank to build a larger housing loan portfolio.

>> The proportion of unsecured loan will be narrowed down and it will drag down the risk weight, hence improvement in the capital buffer.

>> Despite the larger housing book, the NIMs are likely to stay stable as the bank’s aggressive approach to build a low-cost CASA deposit.

>> The valuation (4x) is still attractive after double-digit single day growth. We believe it’s the win-win situation for both shareholders.

11:34 AM

Analyst views on HDFC-HDFC Bank merger: Deal to thrust customer base; housing loan biz

<<  This merger will help expand the customer base and build a product portfolio in the housing loan category and might be game-changer in the segment. Recommend to buy HDFC Bank and accumulate it on dips

Views by Manoj Dalmia, Founder and Director, Proficient Equities

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<< The merger will prove out to be beneficial for both, as HDFC Ltd will come out from a holding company discount whereas HDFC Bank will now get more home loan in its portfolio, says Ravi Singhal, Vice Chairman, GCL Securities.

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<< HDFC Bank reported loan growth of 21% year on year and retail deposit growth is healthy. The operating profits may also see a surge on strong commercial banking and corporate segment. 

<< The merger is a complement to investors and a value addition to HDFC Bank, says Ravi Singh, Vice President and Head of Research, Share India. 

11:25 AM

Factory activity slowed in March, optimism at 2-year low: PMI survey

India's factory activity expanded at a slower pace in March as rising prices meant new orders and output grew at their weakest rate since September, according to a survey released on Monday that also showed optimism at a two-year low. Read here