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“By June, you will see open market 10-second loans hitting the streets both for personal and business loans for every citizen of India who is eligible for a financial loan,” said Arvind Kapil, retail head of HDFC Bank. “Whether you have an account or don’t have an account with us, we could assess you end-to-end without any documentation online and the product will be disbursed 24×7.”

​In such a scenario, the stock’s cumulative open interest has decreased, whereas the price, average traded, and delivered quantity of 5 days have increased. >> For more such web stories click on the ET icon below​

The Sensex advanced 709.96 points, or 1.16%, to close at 61,764 -a day after banking stocks took a beating following a selloff in HDFC twins. The Nifty gained 195.40 points, or 1.08%, to settle at 18,264.

According to the bank website, the one-year MCLR which is the key barometer for most loans has been hiked to 9.05% from the earlier 8.95%.

The details will be finalised after broader stakeholder consultations. "The government has studied the best practices of several jurisdictions and a similar, if not the same, insolvency mechanism is followed in the UK," said an official aware of details. "Various aspects and structures of the planned framework are being examined and a final decision would be taken in due course."

MRF shares currently have the highest denomination among all the companies listed in India. Though the price denomination of a share has little relevance, investors - mostly retail - shy away from buying such stocks on the notion that these are expensive shares.

Pidilite Industries posted a net profit of Rs 283 crore for the quarter ended March, while revenue from operations stood at Rs 2,689 crore.

The brokerage models a consolidated AUM CAGR of ~18% over FY23-25E with consolidated RoA/RoE of ~4.0%/18% over FY25E.

MRF shares reached a 52-week peak of INR99,933.50 ($1,356) before closing at INR97,750 ($1,324), falling short of the coveted INR100,000 mark by INR66.50 ($0.90). Over the last three trading sessions, the stock saw almost 11% growth and gains of over INR10,000 per share. MRF outperformed the Nifty50, delivering more than 37% returns compared to the 9% returned by the 50-stock index. Technical analyst Nilesh Jain said MRF was set to surpass the INR100,000 mark and could test levels of INR105,000, although he cautioned against fresh buying at higher levels.

The Dow Jones Industrial Average rose 40.77 points, or 0.12%, at the open to 33,715.15.