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“One cannot ignore the combined entity anymore now. It becomes a large consolidated play where you get access to virtually everything; retail banking, corporate banking, mortgages and so on and so forth. So I think it is a good move. This will definitely be more synergistic. In terms of scale, size and synergies, we will see a lot of benefits. ”

Following a merger announcement between the financial giants, HDFC topped Rs 5 lakh crore in market capitalisation (at Rs 5,05,725.10 crore) and was trading 13.54 per cent higher at Rs 2,782.70. HDFC Bank, on the other hand, was trading at Rs 1,654.25, up 9.82 per cent. The private lender breached Rs 9 lakh crore in m-cap and was commanding a value of Rs 9,16,927.47 crore.

According to reports, in the previous financial year, the company for the first time facilitated the import of power by Bhutan in order to meet an intermittent requirement of around 400 MW in the winter months. The company also started 200 MW worth of power supply to neighbouring Bangladesh from Sembcorp Energy, facilitating the resolution of a long-pending matter, reports said.

“From HDFC, a very large low yield book will be added to HDFC Bank. Now, the bank itself was struggling with its own IT systems and trying to digitise. Now there is this whole merger. This group for a year or two will see earnings probably not disappoint but maybe not the usual 15% that we are used to from this group.”

A total of 20,687 shares changed hands on the counter till 11:06AM (IST).

Ambuja Cements Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 60850.10 Crore) operating in Cement sector.

The stock quoted a 52-week high of Rs 354.55 and a 52-week low of Rs 223.0.

“HDFC and HDFC Bank regulations are different, the SLR issues, the CRR issues will need to be dealt with. Obviously they would have discussed this with the RBI. I do not think any special dispensation will be given and so it is the right step near term. What it does for shareholders is tough to say. I do not know but this was the logical step.”

Following the upgrade, shares of PB Fintech zoomed more than 9 per cent to Rs 795.60, before trading at Rs 772.10 at 10.40 am. The scrip had settled at Rs 727.95 on Friday. The stock is, however, still trading 20 per cent below its issue price of Rs 980 and 45 per cent below its all-time peak of Rs 1,470 hit on November 17 2021, just two days after its listing.

Promoters held 48.05 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 28.12 per cent and 11.33 per cent, respectively.