Stocks To Watch: HDFC Bank, Raymond, Punjab National Bank, RBL Bank

Shares of HDFC Bank Ltd., Raymond Ltd., Punjab National Bank and RBL Bank will be in focus on Friday.

HDFC Bank's gross advances declined 0.8% quarter-on-quarter to Rs 24.9 lakh crore in the April–June quarter of fiscal 2025, according to an exchange filing on Thursday.

Raymond on Thursday approved the demerger of its real estate arm, Raymond Realty Ltd., as it eyes to capture value in the booming realty space. The company will issue 6.65 crore shares of Raymond Realty, having face value of Rs 10 per share upon demerger, which will be subject to approval of shareholders and regulators.

Punjab National Bank's global loan book jumped 12.7% on a yearly basis to Rs 10.3 lakh crore in the first quarter of fiscal 2025, according to provisional quarterly business updates filed with stock exchanges on Thursday. Growth came in at 12.1% for domestic advances to Rs 9.89 lakh crore.

The benchmark equity indices extended their record rally for the second consecutive session but ended little changed on Thursday, as gains in information technology shares were offset by loss in HDFC Bank.

The NSE Nifty 50 ended 15.65 points, or 0.06%, up at 24,302.15, while the S&P BSE Sensex was 62.87 points, or 0.08%, up at 80,049.67, closing above the 80,000 mark for the first time.

Analysts expect the Nifty index to test the levels of 24,500-24,600, after making a new high of 24,401 levels on Thursday. This, according to them, will depend on the index holding support at 24,200.

With Bank Nifty opening at a gap on Thursday and witnessing profit booking, analysts said that the index is consolidating in the band of 52,000-53,200. If the index sustains above 53,200 on an hourly basis, then analysts expect the rally to extend towards 54,000-54,200 levels.

The GIFT Nifty was trading 4.5 points or 0.02% higher at 24,363.00 as of 07:00 a.m.

• HDFC Bank: The bank's gross advances fell 0.8% quarter-on-quarter at Rs 24.87 lakh crore, while the deposits were flat at Rs 23.79 lakh crore. CASA deposits were down 5% quarter-on-quarter at Rs 8.63 lakh crore for the end of the first quarter in FY25.

• Raymond: The company approved the demerger of its real estate arm, Raymond Realty subject to approval of shareholders and regulators. The company will issue 6.65 crore shares of Raymond Realty having a face value of Rs 10 per share, upon demerger. One share of Raymond Realty will be given for every share held in the parent firm.

• Punjab National Bank: The bank's domestic advances were up 12.1% year-on-year at Rs 9.89 lakh crore, while domestic deposits grew 8.1% year-on-year at Rs 13.7 lakh crore. Global advances were up 12.7% at Rs 10.33 lakh crore and global deposits were up 8.5% at Rs 14.08 lakh crore for the end of the first quarter in FY25.

• RBL Bank: The bank's total deposits went up 18% year-on-year at Rs 1.01 lakh crore, while gross advances were up 18% at Rs 88,455 crore. CASA ratio was at 32.6% against 35.2% reported in the previous quarter.

• IDFC First Bank: Life Insurance Corporation of India acquired 2.48% of the additional stake in IDFC First Bank for Rs 1,500 crore. The current stake stands at 2.68%.

• Mahindra Lifespace Developers: The company was selected as a preferred partner for the redevelopment of 7 residential societies in Mumbai. The project has an estimated GDV of Rs 1,800 crore. The company also acquired land in Bengaluru with an estimated GDV of Rs 250 crore.

• Ircon International: The company’s JV received a Rs 750 crore order from RVNL for the installation of tracks in Uttarakhand. The company holds a 60% stake in the project.

• Lloyds Metal and Energy: The company has opened QIP, sets 732.08 per share.

• RVNL: The company signed a MoU with Delhi Metro Rail Corp for participation in upcoming projects in India and abroad.

• IDBI Bank: The bank's total business was up 15% year-on-year at Rs 4.71 lakh crore, while the deposits were up by 13% year-on-year at Rs 2.77 lakh crore. CASA deposits grew 5% year-on-year at Rs 1.34 lakh crore for the end of the first quarter in FY25.

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