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HDFC shares fall 2.6% over 'extra payout' report
Reports that HDFC Bank used "marketing expenses" to compensate a state agency for placing large deposits rattled investors, with the bank's shares falling 2.6%, erasing over Rs 30,000 cr in market cap in a single day. Maharashtra State Road Development Corporation officials said the 1.5% payout was a long-standing business model and an industry-wide convention.
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economictimes.indiatimes.com
HDFC Bank shares fall 2% on reports of internal probe over Rs 45 cr interest payments
HDFC Bank shares fell after a report revealed an internal investigation into Rs 45 crore payments to Maharashtra State Road Development Corporation. The Audit Committee ordered…
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thehindubusinessline.com
HDFC Bank falls on report of payments to attract big deposits
HDFC Bank shares drop 2% amid reports of illegal payments to attract deposits, raising governance concerns.
