HDFC Bank Share Price Live Updates: HDFC Bank's Recent Closing Price
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Hans India
5 hours ago
- Hans India
Sensex tumbles 1% as negative global cues haunt investors
Mumbai: Equity benchmark index Sensex tumbled nearly one per cent to slip below the 80,000 level on Friday as growing concerns over the impact of the additional US tariff and unabated foreign fund outflows unnerved investors. Deep losses in market heavyweights Reliance Industries, HDFC Bank and Bharti Airtel also added pressure on equities, traders said. The 30-share BSE Sensex tanked 765.47 points or 0.95 per cent to settle at 79,857.79. During the day, it tumbled 847.42 points or 1.05 per cent to 79,775.84. As many as 2,507 stocks declined while 1,521 advanced and 145 remained unchanged on the BSE. The 50-share NSE Nifty dropped 232.85 points or 0.95 per cent to 24,363.30. Extending losing streak for the sixth consecutive week, the BSE benchmark dropped 742.12 points or 0.92 per cent, and the Nifty declined 202.05 points or 0.82 per cent. 'The Indian equity market exhibited downward movement, closing at a three-month low amid growing concerns over the impact of US tariffs on Indian exports. FIIs remained net sellers, intensifying the pressure on domestic indices. The pessimism was broad-based, with realty and metals bearing the biggest brunt,' Vinod Nair, Head of Research, Geojit Investments Limited, said. From the Sensex firms, Bharti Airtel, Tata Motors, Mahindra & Mahindra, Kotak Mahindra Bank, Axis Bank and Reliance Industries were among the laggards. 'Selling intensified, with the Sensex ending below the psychological 80k mark, as analysts believe that once the stiff tariff penalty on Indian goods by the Trump administration comes into effect, India's growth could be hit going ahead,' Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said. However, NTPC, Titan, Trent, ITC and Bajaj Finserv managed to be in green territory. The BSE midcap gauge tanked 1.56 per cent, and the smallcap index dropped 1.03 per cent.
The Hindu
5 hours ago
- The Hindu
Its time for private sector to do heavy lifting: HDFC Bank Chairman
Now that the government had done enough investments during and post Covid to revive the economy, is now time for the private sector to do the heavy lifting (to keep the momentum), said Atanu Chakraborty, part- time chairman and independent director of HDFC Bank while speaking at the 31 Annual General Meeting of the Bank on Friday (August 9, 2025) in Mumbai. 'Time has come for the private sector to do the heavy lifting by not just waiting for uptick in the demand cycle but rather innovating on product design, implementing cost efficiency, and improving delivery systems for myriad products,' he told shareholders. Expressing optimism on the Indian economy despite global headwinds, he said, 'India today remains amongst the best performing major global economies. Last fiscal real GDP growth moderated to 6.5% following an average of 8.8% over the previous three financial years. This can be attributed to 'base effect', modest aggregate demand and spillovers of global uncertainties,' he said. 'We also witnessed softening of urban demand. Fixed investments stayed modest. Foreign capital inflows also weakened in the latter half of the year, reflecting global uncertainty,' he added. The chairman said the domestic growth had found meaningful support in rural demand that was backed by favourable monsoon conditions and a strong harvest. 'Exports grew by 6.3%, led by services, with Global Capability Centres continuing to expand. Construction and services remained robust, expanding above 9 and 7% respectively. Manufacturing, however, showed a slowdown,' he added,
Time of India
9 hours ago
- Time of India
'Legal issues make reverse mortgage unsuitable'
MUMBAI: HDFC Bank MD & CEO Sashidhar Jagdishan told shareholders at the bank's annual general meeting that reverse mortgage loans do not work in the Indian context because of "various legal and operational issues. " He added, "I'm not aware of any bank currently offering it. One bank did in the past, but they have stopped. This product is unsuitable for both customers and institutions." A reverse mortgage allows senior citizens to borrow against the value of their home without selling it, receiving funds every month as income. The loan is repaid, with interest, when the borrower sells the house or passes away. Reverse mortgage was introduced in India following guidelines from the National Housing Bank. Jagdishan also detailed the bank's ongoing technology upgrades, including phased rollouts of a new mobile app and net banking interface. "The new mobile app is being deployed... the migration into the new mobile app will be completed for a lot of customers before the fiscal year is up," he said. The bank is also planning to revamp its website and has in-house teams building platforms instead of relying on external vendors. The bank is introducing generative AI for process re-engineering, operational efficiencies, and customer service, but Jagdishan stressed that these tools will not replace human decision-making. "We are focusing on the guardrails... used only for basic, mundane activities in the initial phase, not to substitute human judgment," he said. On the bank's growth and net interest margin (NIM) trajectory post-merger, Jagdishan said deposit mobilisation to improve the credit-deposit ratio had come at the cost of low-cost current and savings account (CASA) deposits. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
