HDFC Bank has informed the stock exchanges that it has received an administrative warning letter from the Securities and Exchange Board of India (SEBI). The regulator has issued an administrative warning letter to HDFC Bank over alleged non-compliance with multiple regulations.
The advisory relates to non-compliance with certain provisions of SEBI regulations relating to merchant bankers, issuance of capital and disclosure requirements, and prohibition of insider trading.
The lender said that SEBI claimed non-compliance with the following regulations:
SEBI (Merchant Bankers) Regulations, 1992, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and Sebi (Prohibition of Insider Trading) Regulations, 2015.
The warning was issued on December 9 and received by the bank on December 11, the disclosure said.
HDFC Bank said it would take necessary steps to address the concerns and directions mentioned in the letter.
The bank confirmed that the warning letter had no measurable impact on its financial or operational activities.
This notification follows SEBI’s standard procedure for regulatory compliance and is in line with the bank’s ongoing efforts to address regulatory concerns.
HDFC Bank’s market capitalization crossed the Rs 14 lakh crore mark for the first time in intraday trade as the share price of the largest private sector lender hit a record high on the BSE last month. Positive momentum was seen around the stock with MSCI’s November rebalancing taking effect early this week.
HDFC Bank reported a consolidated profit after tax of Rs 17,830 crore. Consolidated profit after tax, adjusted for trading, mark-to-market gains and tax credits in the previous year, grew by 17.4 per cent during the quarter ended September 30, 2023. Consolidated profit after tax for the half year ended September 30, 2024 was Rs 34,300 crore.
The bank’s consolidated revenue grew 14.7 per cent year-on-year to Rs 76,040 crore for the quarter ended September 30, 2024, from Rs 66,320 crore for the quarter ended September 30, 2023.
Earnings per share for the quarter ended September 30, 2024 was Rs 23.4 and book value per share as of September 30, 2024 was Rs 631.4.
The bank’s net revenue rose 9.2% to Rs 41,600 crore for the quarter ended September 30, 2024 from Rs 38,090 crore for the quarter ended September 30, 2023.
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