Business News: Shares of HDFC Bank Witness a Jump as Company Set to Finalise Strategic Deal and Interim Dividend

Business News: Prior to the market opening, it was announced that HDFC Bank’s management will meet with the board on January 19 to finalise a potential transaction. In addition, a special interim dividend is scheduled to be declared in relation to the incident. Following this announcement, HDFC saw a positive market opening, indicating a substantial development for the bank.

Kotak Announces Highest Bonus

Kotak Mahindra Bank has historically announced the highest number of bonuses among India’s private sector banks. Its initial bonus issue was in 1994 at a 1:1 ratio, with subsequent issues in 2004, 2007 (3:2), and 2015 (1:1). In comparison, ICICI Bank’s most recent bonus was issued in 2017 at a 1:10 ratio and has not been published since. HDFC Bank, meanwhile, announced a new incentive on July 19, coinciding with the release of a special interim dividend. Notably, the last major private sector bank to issue a bonus was ICICI Bank eight years ago, illustrating the rarity of such announcements in recent years.