With over 26 years of extensive experience in the financial and securities domain, Mangalam has a proven track record of delivering innovative technology solutions that drive business outcomes. Prior to joining HDFC Securities, she served as CTO at Axis Securities, where she spearheaded digital transformation efforts, built high-performing teams, and established robust disaster recovery systems. Her previous leadership roles include positions at ICICI Securities as Sr. Vice President, and at leading IT organizations such as 3i Infotech and Larsen & Toubro Infotech Ltd.

Mangalam, a Computer Engineering graduate from a prestigious institute in Mumbai, brings a customer-first mindset and a passion for all things digital, positioning her uniquely to leverage technology for delivering business value and enhancing stakeholder experience. While keeping an astute focus on emerging technologies including impact of AI, her strategy emphasizes strengthening application-level scalability and platform performance to ensure a seamless and secure trading experience for clients.

Commenting on her new role, Ms. Mangalam Ganesh said, “I am excited to join HDFC Securities at such a pivotal time in the company’s journey. I look forward to working with the talented team to leverage technology to drive innovation, strengthen our platform capabilities, and deliver exceptional value to our clients.”

“We are thrilled to welcome Mangalam to the HDFC Securities family,” said Dhiraj Relli, MD & CEO of HDFC Securities. “Her deep expertise and proven track record in technology leadership will be pivotal in accelerating our digital evolution and further improving the efficiency and client centricity of our platforms. Her vision for technological innovation aligns perfectly with our goal to provide our customers with a seamless, secure, and state-of-the-art trading experience.”

Beyond her professional endeavours, Mangalam is passionate about teaching coding to aspiring computer professionals, exploring new technology platforms, and practicing yoga and meditation. She also enjoys reading and listening to music, reflecting her holistic approach to life and work.

HDFC Securities’ vision is to empower investors with intuitive, secure, and transparent platforms and this appointment underscores this vision and marks an important step in strengthening the organization’s commitment to being a tech-first organization, continuously innovating to drive the next phase of innovation.

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Unlike conventional WhatsApp-based investment services that rely on text inputs, this offering provides a more intuitive click-based interface, similar to an investment app, but within WhatsApp. Investors can start a Systematic Investment Plan (SIP) or make a lumpsum investment in HDFC Mutual Fund schemes directly through WhatsApp (+91-82706 82706). The platform supports multiple payment options, including UPI Autopay, net banking, and other digital modes, ensuring flexibility and ease of transactions. With end-to-end encryption, the service prioritizes security, providing investors with a safe and reliable way to manage their investments.

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Bengaluru, 13 March 2024: HDFC Top 100 Fund, an open-ended equity scheme predominantly investing in large-cap stocks (“the Fund”), has successfully completed 27 years in 2023. Over the past 27 years, the Fund has delivered Compound Annual Growth Rate (CAGR) of ~19%. Further, a SIP of Rs 10,000 invested systematically on the first business day of every month (total investment Rs 32.90 Lacs) in HDFC Top 100 Fund would have grown to Rs. 7.98 crores by February 29, 2024 (See complete performance details given at the end). This performance is a testament to the fund’s ability to navigate market fluctuations and deliver growth to investors.

The portfolio construction follows a bottom up approach to stock picking blended with top down sector and macro trends. The Fund follows a diversified style with a blend of GARP (growth at reasonable price) and value. In stock selection, the focus is on quality of business models, management and financial metrics. Portfolio construction is based on risk-reward of opportunities available at any given point in time. As per the mandate, more than 80% of the portfolio always remains invested in the well-established large cap companies. The core of the portfolio construction is from a medium to long term perspective. The strategy will be in line with our philosophy of maintaining a disciplined approach of looking for quality companies at reasonable valuations.

There is lot of focus on risk management with active positions being taken in a controlled manner while ensuring compliance with regulatory and internal risk guidelines. Any high conviction bets are taken after a considered evaluation of the company’s positioning in the industry and the business cycle and regularly evaluated. The portfolio is well diversified in number of stocks and the fund manager takes measured sector deviations calls vs benchmark.

Large-cap stocks have historically demonstrated stability during economic fluctuations and have had better risk reward ratios. Further, the large cap index has outperformed mid and small cap indices in 7 out of last 18 calendar years. Also, given the recent sharp outperformance of mid and small caps over large caps, the large cap segment now seems to be relatively attractive in terms of valuations and investors with medium to long term view may consider investing in HDFC Top 100 Fund.

Mr. Navneet Munot, MD & CEO – HDFC AMC, said, ” Sound Investment + Time + Patience has been the time-tested principle for wealth creation in equities. HDFC Top 100 Fund, which has stood the test of time bears testimony to this. Wealth creation journey of HDFC Top 100 Fund over 27 years is also a shining example of our robust research and investment processes which has helped the fund withstand multiple market cycles over the years.

Mr. Rahul Baijal, Senior Fund Manager – Equities, HDFC AMC, said “HDFC Top 100 Fund’s performance over the past 27 years is a testament to our rigorous research, disciplined investment approach, and a focus on well-established businesses. Large-cap stocks offer stability and better risk adjusted return, making them an attractive option for investors looking for investment opportunities over the long term.”

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Life insurance penetration is still very low in India and thus, there is a need for greater recognition of its importance and increased adoption. In order to address this gap, HDFC Life launched the ‘Insure India’ campaign to raise awareness on the importance of life insurance amongst Indians. The campaign represents the concept of shared responsibility of employees, partners and customers, to drive positive change in ensuring the protection and financial wellbeing of every Indian through life insurance products and services.

As part of this campaign, this year, HDFC Life rolled out series of initiatives amplified through a multi-pronged communication strategy to reach individuals across the nation. To take it a step further, HDFC Life created an exclusive microsite, urging everyone to join the movement and stand as one to attempt a Guinness World Records title. HDFC Life achieved this feat for the ‘Largest online selfie mosaic with 19,097 photos’, which stands as a testament to their commitment.

Speaking on the campaign, Vishal Subharwal – Chief Marketing Officer & Group Head – Strategy, HDFC Life said, “HDFC Life is dedicated to increasing the awareness and adoption of life insurance, with a larger industry vision to ensure ‘Life insurance for all’ by 2047. The ‘Insure India’ campaign is an effort to drive awareness around the category amongst Indians. We are delighted to be conferred the Guinness World Records title. We thank everyone who joined this movement – our customers, partners, and employees – for their wholehearted support and participation. We hope that an increase in awareness about life insurance consequently leads to an increase in the sum assured (life cover) for Indians. Life insurance plans have the power to protect one’s family’s future and act as an essential tool to secure various financial goals.”

The Guinness World Records representative visited Mumbai and presented the official certificate to HDFC Life.

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The Reserve Bank of India (RBI) has asked HDFC to temporarily stop all launches of its upcoming digital business-generating activities and sourcing of new credit card customers after outage at its data center which impacted operations last month.

“RBI has issued an order dated December 2, 2020, to HDFC Bank Ltd with regard to certain incidents of outages in the internet banking/ mobile banking/ payment utilities of the bank over the past two years, including the recent outages in the bank’s internet banking and payment system on November 21, 2020, due to a power failure in the primary data centre,” HDFC Bank said in a regulatory filing.

HDFC Bank said the RBI order “has advised the bank to temporarily stop all launches of the digital business-generating activities planned under its program Digital 2.0 and other proposed business generating IT applications and sourcing of new credit card customers”.

In addition, the order has directed the bank board to examine the lapses and fixes accountability, HDFC Bank added.

The lender said the above measures shall be considered for lifting upon satisfactory compliance with the major critical observations as identified by the RBI.

HDFC Bank said “over the last two years, it has taken several measures to fortify its IT systems and will continue to work swiftly to close out the balance and would continue to engage with the regulator in this regard.

“The bank has been taking conscious, concrete steps to remedy the recent outages on its digital banking channels and assures its customers that it expects the current supervisory actions will have no impact on its existing credit cards, digital banking channels and existing operations. The bank believes that these measures will not materially impact its overall business,” it added

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“You will also be able to access all our digital services & platforms,” Yes Bank said on Monday.

Yes Bank customers had been facing a tough time in accessing internet banking, using payment via UPI and withdrawing from ATMs after the RBI’s sudden announcement to curb withdrawals led to a scramble to withdraw money.

Earlier this month, the RBI placed Yes Bank under a moratorium till April 3 following deterioration in the bank’s financial position, and took control of its board. The central bank restricted withdrawals from Yes Bank accounts at Rs 50,000 with few exceptions.

On Friday, the Union Cabinet approved a reconstruction scheme for Yes Bank, as proposed by the RBI.

As part of the RBI-backed rescue plan for the troubled private sector lender, SBI will pick up to 49 per cent in Yes Bank. Yes Bank’s authorised share capital will be revised upwards from Rs 1,100 crore to Rs 6,200 crore.

Besides SBI, several banks and financial institutions including ICICI Bank, Axis Bank and HDFC have committed to pick stakes in Yes Bank.

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Bajaj Finance Ltd on Monday replaced State Bank of India to become India’s tenth most-valued firm by market capitalisation on the BSE.

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The timing of this bank strike is symbolic as it coincides with the release of the Economic Survey in the Parliament today and the presentation of the Union Budget tomorrow.

While work at private sector banks like ICICI Bank and HDFC Bank would not be affected due to the strike, services at PSU banks were hit. The State Bank of India (SBI) had already warned that its services could be impacted to some extent. Around 10 lakh bank employees were expected to join the two-day protest.

Tamil Nadu, Maharashtra, Andhra Pradesh and Telangana, West Bengal, UP, MP, Delhi, Punjab, Gujarat, Karnataka, Kerala, Bihar, etc. banking transactions have been greatly affected

Bank unions vs bank management

Bank employees under the umbrella of United Forum of Bank Unions (UFBU) and representatives of bank management (Indian Bank’s Association or IBA) had a last minute meeting yesterday on wage settlement issues, pending since November 2017. IBA said it has increased the pay hike offer of 12.25% to 19% including performance linked incentive. The bank unions have refused to budge from their demands of a 20% pay hike on pay slip components with adequate loading thereof.

Bank unions are also demanding 5-day work week, merger of special allowance with basic pay, scrapping of new pension scheme, etc. IBA made it clear that the proposal of a 5-day banking is not possible. “It is known to all that the economy of the country is going through testing times. Banks being the principal players in economic development, cannot afford to provide lesser number of working days for banking activities,” IBA said in a statement.

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The 30-share index was trading 403.87 points, or 1.08 per cent, lower at 36,928.92 at 0930 hours, while the broader Nifty sank 124.85 points, or 1.13 per cent, to 10,898.40 in early trade.

In the previous session on Friday, the BSE barometer ended 263.86 points, or 0.71 per cent, higher at 37,332.79, while the Nifty rose 74.95 points, or 0.68 per cent, to close at 11,023.25.

Financial markets remained closed on Monday on account of ‘Ganesh Chaturthi‘.Top losers in the Sensex pack in early trade on Tuesday included Tata Motors, Tata Steel, ICICI Bank, ONGC, HDFC, M&M, NTPC, Vedanta, ITC and SBI, which fell up to 4 per cent.

On the other hand, IT stocks rallied as the rupee depreciated 65 paise against its earlier close to trade at 72.07 in early session. TechM, HCL Tech, TCS and Infosys jumped up to 2 per cent.

According to traders, market sentiment took a hit on account of weak macroeconomic data releases and double-digit decline in auto sales in August as the sector continued to reel under one of the worst slowdowns in its history.

Official data released after market hours on Friday showed that India’s GDP growth slipped to an over six-year low of 5 per cent in the June quarter of 2019-20, hit by a sharp deceleration in manufacturing output and subdued farm sector activity.

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