Why HDFC Bank Limited Stock Jumped 9% on Friday [The Motley Fool]
HDFC Bank Limited (HDB)
US:NYSE Investor Relations:
hdfcbank.com/aboutus/cg/financial_information.htm
Company Research
Source: The Motley Fool
Why HDFC Bank Limited Stock Jumped 9% on Friday A major tax cut bodes well for the Indian banking leader. Shares of HDFC Bank Limited ( NYSE:HDB ) climbed 9.4% on Sept. 20 after the Indian government surprised investors with a large corporate tax cut. India is reducing its corporate tax rate from 30% to 22%. The move is intended to help spur the country's economy, which has slowed in recent quarters . Investors cheered the news. The iShares MSCI India ETF ( NYSEMKT:INDA ) , which tracks 80 Indian businesses that collectively account for about 85% of the Indian stock market's value, popped 5.7%. Meanwhile, the iShares MSCI India Small Cap ETF ( NYSEMKT:SMIN ) , which tracks 267 small-cap Indian businesses, jumped 5.9%. As India's largest private lender, HDFC Bank is particularly well-positioned to profit from a reduction in corporate taxes. The tax cut is likely to serve as a powerful stimulus for India's economy. Stronger economic growth, in turn, should fuel demand for HDFC's corp
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HDB
News
- HDFC Bank Limited (NYSE: HDB) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- HDFC Bank Inaugurated its First Branch in SingaporeBusiness Wire
- HDFC Bank Limited (NYSE: HDB) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- HDFC Bank Limited (NYSE: HDB) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
HDB
Sec Filings
- 11/19/24 - Form 6-K
- 11/8/24 - Form 6-K
- 11/4/24 - Form 6-K
- HDB's page on the SEC website