Indian Stock Picks - Share Ideas , News, Fundamentals

HDFC Ltd reported a 24 per cent growth in net profit at Rs 664 crore in the second quarter of 2009-10, over Rs 534 crore in the corresponding quarter last year. Increase in loan disbursements, reduction in cost of funds, and lower non-performing loans helped HDFC post better profits, said a company official. The interest spread on loans for the quarter was marginally higher at 2.2 per cent compared with 2.19 per cent in the preceding quarter. However, it was marginally lower from 2.24 per cent in the corresponding quarter last year. The cost of funds has come down on an incremental basis to 9.07 per cent for the six-month period ending September 30 from 9.4 per cent in the year ago period. Income from operations increased to Rs 2,783.54 crore from Rs 2,592.54 crore. The composition of the total loan portfolio has seen a change with retail loans now constituting 66 per cent of the total portfolio, down from 70 per cent, according to Mr Keki Mistry, Vice-Chairman and Managing Director, H...

Housing Development Finance Corporation (HDFC) today recorded a 15.73 per cent decline in its net profit at Rs 546.83 for the quarter ended December 31, 2008, as compared to Rs 648.93 crore in the same period last year. The reason for the lower profit in the current year is that in the year-ago quarter, there was an exceptional profit on the sale of investments amounting to Rs 103.42 crore in the same quarter a year ago. Profit before other income and exceptional items, however, was higher in the  quarter under review, at Rs 774.51 crore, as compared to Rs 652.45 crore in the corresponding period a year ago. Total income for the reporting quarter rose 35.74 per cent to Rs 2,924.84 crore as against Rs 2,154.72 crore.

The net profit after tax of HDFC grew 32.4 per cent to Rs 534.23 crore for the quarter ended September 2008 against Rs 403.44 crore excluding exceptional items in the corresponding quarter last year. The company had reported an exceptional item in Q2 FY08 of Rs 313.25 crore, which was the profit made on sale of its stake in BPO firm Intelent Global Services. The net interest income was up 29 per cent at Rs 857.80 crore for the quarter ended September 30, 2008 when compared with Rs 664.9 crore in the corresponding period a year ago. During the six months ended September 30, 2008 aggregated approvals went up 28 per cent to Rs 24,180 crore as compared to Rs 18,948 crore during the corresponding period in the previous fiscal.

Housing Development Finance Corporation (HDFC) has posted a 25.56 per cent rise in its net profit at Rs 468.11 crore for first quarter ended June 2008 as against Rs 372.81 crore in the same period of 2007-08. The total income for the reporting quarter rose to Rs 2,318.62 crore from Rs 1,830.3 crore in April-June 2007, HDFC informed the Bombay Stock Exchange today. The mortgage lender disbursed loans worth Rs 7,204 crore in April-June 2008 as against Rs 5,645 crore a year ago. Its sanctions rose by 30 per cent to Rs 9,996 crore from Rs 7,713 crore.

Benefits not clear at this (The Hindu Business Line 26th Feb 2008)The merger of Centurion Bank with HDFC Bank marks another step in the slow and steady consolidation that is happening in the banking space. Recent bank mergers in the country have usually been triggered because one of the institutions was in trouble. Whether it was Global Trust Bank earlier, or more recently United Western Bank or Sangli Bank, they had to be bailed out by stronger institutions. In all three cases, the regulator had to play mid-wife and see the deal through. Only in the case of IDBI Bank, which took over the ailing United Western Bank, was the motive immediately visible. It lacked distribution muscle. Whether Oriental Bank that took over Global Trust needed a presence in the south, or ICICI Bank that took over Sangli Bank, needed a rural portfolio (the official reasons given), remains a matter of debate. HDFC Bank’s senior management is on record that the deal would offer them scale and size. Why this was...

HDFC Q3 net zooms 82% to Rs 649cr (Business Stndard 18th Jan 2008)Housing Development Finance Corporation (HDFC) today reported a 82.54% increase in net profit at Rs 648.93 crore for the third quarter ended December 31, 2007 when compared with Rs 355.49 crore in Q3FY07. More

HDFC to sell 7.15% in life venture to foreign partner (The Hindu Business Line 1st Jan 2008)Housing finance company HDFC said on Monday that it has agreed to sell 7.15 per cent stake in its life insurance joint venture - HDFC Standard Life Insurance Company - to its foreign partner, Standard Life (Mauritius ... More

Twenty stocks for 2008 (Business Standard 31st Dec 2007) Adlabs Films Bank of Baroda Bharat Bijlee Bharati Shipyard BHEL Bharti Airtel Blue Star Dishman Pharmaceuticals Educomp Solutions HDFC India Infoline Jain Irrigation Jindal Saw Larsen & Toubro Maruti Suzuki ONGC Patel Engineering Reliance Communications Reliance Industries State Bank of India More