HDFC said it has agreed to buy a 51% of Apollo Munich Health Insurance Company Ltd for around Rs 1,347 cr. Apollo Munich will be merged with HDFC’s general insurance subsidiary, HDFC ERGO General Insurance Company Limited, even as Munich Re continues to remain invested in the new, merged entity. HDFC already has a joint […]
Regulatory body Competition Commission of India (CCI) approved the merger of Kolkata-based Bandhan Bank with affordable housing finance company GRUH Finance. On January 7, 2019, board of directors of both the companies had approved the merger and said that it would be completed within six months. The merger comes after the Reserve Bank of India […]
Housing Development Finance Corporation Ltd has tied up with Bangalore-based real estate player Prestige Estates to invest Rs 2,500 cr in affordable housing. The tie-up has been implemented through its subsidiary HDFC Capital Advisors Limited, which is the investment manager to HDFC Capital Affordable Real Estate Fund 1. The fund, which focuses on middle income […]
Housing Development Finance Corporation Ltd or HDFC said the initial public offering of its life insurance unit HDFC Standard Life Insurance has been priced at the upper end of Rs 290 per share. The IPO will now mop up Rs 8,695 cr from the market. The shares were being offered in a band of Rs […]
HDFC ERGO General Insurance Company launched a web enabled HDFC ERGO Community portal for the consumers and the stakeholders of general insurance sector. The website has been modeled after tech forums, and is supposed to “serve as a channel for its users to research, get advice, discuss and share their experiences and knowledge on non-life […]
Life insurer HDFC Life said it will start selling insurance policies using the Common Services Centre (CSC) network set up by the govenrment. The company has designed HDFC Life CSC Suraksha, an exclusive term insurance plan to be sold through CSC channel, it said. The annual premium for the specal CSC Suraksha scheme starts at […]
Snapdeal, India’s largest online marketplace today and HDFC Bank Ltd. today launched a co-branded Visa credit card with lots of offers and discounts. The new card will offer Rs 500 cash back on spending Rs 5000 across any category on Snapdeal (for one time only.) It will also offer 10% cash back on Recharges & […]
Housing Development Finance Corporation Limited (HDFC) reported profit after tax stood at Rs 1,361 crore as for the April-June quarter compared to Rs 1,345 crore in the previous year. The consolidated profit after tax stood at Rs 2,204 crore as compared to Rs 1,873 crore in the corresponding quarter last year, representing a growth of […]
Life Insurance Corporation of India, India’s biggest life insurer, continued to lose new business to private sector players, particularly ICICI Prudential and HDFC Standard, last financial year, according to industry numbers. LIC managed to get 78,000 cr of first-year life-insurance premium out of a total of 113,142 cr, implying a market share of 69.2% of […]
ICICI Prudential, India’s fifth biggest mutual fund by equity holdings, increased its cash holdings in May by selling most of its holdings in Bharti Airtel and much of its holdings in ONGC, Crompton Greaves, Cairn India, Hindalco and SJVN, publicly available numbers revealed. Mutual funds typically increase cash holdings when they expect share prices to […]
