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Indian ADRs: Tata Motors up 9.7%, ICICI Bank gains 9.6%
Indian ADRs: Tata Motors, ICICI Bank, HDFC Bank, Wipro, Satyam, Infosys, Dr Reddys and Patni gained, while MTNL slipped.
HDFC to buy 10% in Indiabulls comex
HDFC Bank has applied to the Reserve Bank of India (RBI) to buy 10 per cent stake in MMTC-Indiabulls-promoted commodity exchange, which is expected to be operational by March 2009, a top MMTC official
HDFC Bank turns down
HDFC Bank has touched an intra day high of Rs 936.65 and an intra day low of Rs 863.50. At 3 pm, the share was quoting at Rs 881.10, down Rs 31.75, or 3.48%. It was trading with volumes of 428,947 shares. Yesterday the share closed up 3.52% or Rs 31.05 at Rs 912.85.
HDFC among major losers
HDFC is among major losers on the Sensex. It had touched an intraday high of Rs 1,547.80 and an intraday low of Rs 1,419. At 2:39 pm, the share was quoting at Rs 1,429.90, down Rs 79.45, or 5.26%.
Expect markets to open flat to marginally down: HDFC Sec
According to HDFC Securities\’ Morning report, expect the markets to open flat to marginally down.
Indian ADRs: Satyam down 7%, Wipro down 6.4%
Indian ADRs: Satyam, Wipro, Infosys, Patni, MTNL and HDFC Bank plunged, while Tata Motors, Sterlite, Dr Reddys and Tata Comm was up.
HDFC Bank, HSBC reduce deposit rates
Public sector banks have lowered both deposit and lending rates, while almost all private and foreign banks have stayed away from rate cuts despite the Reserve Bank of India reducing key rates. HDFC Bank has become the first private sector lender to reduce deposit rates, while other private sector banks said they would also jump on the bandwagon over the next few weeks.
HDFC Bank, HSBC reduce deposit rates
HDFC Bank and HSBC have set the ball rolling for their private sector and foreign peers to lower deposit rates.
HDFC moves up smartly
HDFC had touched an intraday high of Rs 1,494 and an intraday low of Rs 1,402.50. At 2:47 pm, the share was quoting at Rs 1,484.10, up Rs 70.30, or 4.97%. It was trading with volumes of 235,968 shares. Yesterday the share closed up 1.62% or Rs 22.55 at Rs 1,413.80.
Mkts volatile; IT, banking, infra lead
The markets opened marginally higher in early trade but immediately turned volatile following mixed Asian cues. SBI, LT, BHEL, DLF, HDFC Bank, Reliance Communications and Wipro are leading this rally, while Hindalco, NTPC, Bharti, TCS, ONGC, SAIL, Nalco, and Maruti are draggers