LIC Housing Finance to replace HDFC in Nifty Financial Services Index starting July 13

Finance


Following HDFC’s merger with HDFC Bank from 1 July 2023, LIC Housing Finance will replace HDFC Ltd in the Nifty Financial Services Index from 13 July. The NSE Index announced Tuesday its replacement for HDFC shares in the index. On mainboard Nifty 50, technology player LTI Mindtree will replace HDFC from July 13, 2023.

Following HDFC’s merger with HDFC Bank from 1 July 2023, LIC Housing Finance will replace HDFC Ltd in the Nifty Financial Services Index from 13 July. The NSE Index announced Tuesday its replacement for HDFC shares in the index. On mainboard Nifty 50, technology player LTI Mindtree will replace HDFC from July 13, 2023.

The merger now ranks HDFC Bank as the world’s fourth most valuable lender, narrowing the asset size gap with state-owned State Bank (SBI) and making it India’s second largest bank. As of March 2023, the total business amount after the merger will be Net worth over $41 million 4.14 billion.

The merger now ranks HDFC Bank as the world’s fourth most valuable lender, narrowing the asset size gap with state-owned State Bank (SBI) and making it India’s second largest bank. As of March 2023, the total business amount after the merger will be Net worth over $41 million 4.14 billion.

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According to the capital markets regulator, the Securities and Exchange Board of India (SEBI), the combined entity will bring together, among other things, the significant complementarities that exist between the two entities and will benefit from various It is poised to create meaningful value for its stakeholders. of both entities.

For the January-March quarter of fiscal year 2022-23, LIC Housing Finance reported net income. $1,180.3 million, up 5.5 percent year-over-year $1,118.6 million in the same period last year.

NBFC’s Net Interest Income (NII), the difference between interest income earned from lending activities and interest paid to depositors, is: It reported a 22.1% year-on-year growth of $1,990.3 million in the January-March quarter. 163.0 billion yen in the same period of the previous year.

The board recommended a dividend 8.50 per share 2 each (425%) in 2022-23. His March 2023 quarterly earnings for the major mortgage lenders were: 6,415,110,000, compared The same period last year was 5,299.66 million dollars, recording a year-on-year growth of 21.04%.

On July 4, LIC Housing Finance’s share price settled down 1.56%. 390.30 per piece in BSE.



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