HDFC shares down on infra bond impact worries

Tags: Companies
Shares in Housing Development Finance Corp Ltd fall as much as 2.9 percent on worries about the negative impact from the RBI guidelines under which banks would be exempted from reserve requirements when raising long-term bonds for infrastructure.

UBS downgrades HDFC to "neutral" from "buy" and cuts price target to 1,075 rupees from 1,100 rupees.

The investment bank says HDFC could be impacted by more aggressive pricing on loans by banks, while competition to raise long-term bonds could push up long-term rates.

HDFC shares down 2.2 percent at 0416 GMT.

EDITORIAL OF THE DAY

  • While net neutrality is a noble concept, internet for all is a necessity

    The Telecom Regulatory Authority of India’s directive that no service provider should offer or charge discriminatory tariffs for data services on th

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Arun Nigavekar

Tablets, memory cards for educatioNext

The Commonwealth he­ads of government mee­ting held in Malta last ...

Rajgopal Nidamboor

Try to awaken the archaeologist within

Our mind is far ahead of René Descartes’ famous maxim, ...

Dharmendra Khandal

Urbanisation is costing us our wildlife

The road transport and highways minister Nitin Gadkari aims to ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture