Google Trend: IDFC First Bank to BPCL, 4 most searched companies in last 1 month

Several companies have been grabbing headlines in the last 1 month for a whole host of developments ranging from company specific news to geo-political impact. We have shortlisted 4 companies that featured in top 5 list on Google Trends.

Here are details of the 4 most searched companies and why they made headlines.

IDFC First Bank

IDFC First Bank disclosed a Rs 590 crore fraud at its Chandigarh branch, linked to Haryana government accounts.

A day later, the Haryana government said that the bank had deposited back ₹583 crore belonging to the state.

In the latest development in the IDFC First Bank fraud case, the Enforcement Directorate (ED) has registered a money laundering case against the bank.

The ED has also conducted searches at 19 locations across Chandigarh, Gurugram, and Mohali, according to PTI. Officials said the raids targeted business entities, real estate agents, and other individuals linked to the alleged scam. These entities are suspected to have helped the accused route funds through hawala channels to conceal the money trail.

HDFC Bank

Another bank in focus. HDFC Bank, the country’s largest private banker made it to the headlines after its part-time chairman, Atanu Chakraborty, resigned abruptly. This, apparently, triggered a sharp selloff in the stock, wiping out nearly $11.5 billion in market value of HDFC Bank stock. Chakraborty cited ‘ethical differences’ in his resignation, while Bloomberg stated that deeper disagreements between the board and the management over accountability for some lapses led to it. The lapse in question is linked to client losses from Credit Suisse bonds and regulatory issues at the bank’s Dubai branch.

The development comes at a time when HDFC Bank’s stock has underperformed peers like SBI and ICICI Bank, adding to the investor concerns. Days following the event, RBI and the bank’s management moved to reassure markets on governance and stability.

In a recent interview with CNBC TV-18, Chakraborty dismissed any direct link between his exit and the decline in stock performance. He also pushed back against the reports of differences with CEO Sashidhar Jagdishan, saying the issue of reappointment had not even come up for discussion at the board level and that the ‘personality issue’ narrative was overstated.

Meanwhile, the bank has appointed external law firms to review his resignation letter. Chakraborty described this move as procedural, reiterating that hsi concerns were about larger governance issues rather than any single incident.

IIFCL

State-owned India Infrastructure Finance Company (IIFCL) topped Google searches as the Union Cabinet gave a nod for its IPO plans. As per reports, the IPO is likely to hit the stock exchanges by FY27, as the lender is in the process of completing the preparatory work.

According to a report published by FE, the government may divest 25% of its stake, and the offer could comprise 10% fresh equity to raise capital for infrastructure development, and a 15% stake dilution by the government.

Currently, IIFCL is a wholly owned Government of India enterprise. As per a PTI report, the company’s Managing Director, Rohit Rishi, said that the NBFC will focus on scaling up its infrastructure financing and developing a more diversified funding base.

“We will improve the quality and scale of infrastructure financing through disciplined appraisal standards and technology-enabled monitoring. As we grow, asset quality and prudent risk management will remain non-negotiable,” PTI quoted Rishi as saying.

Bharat Petroleum

BPCL too has been trending across Google search given all the attention to the oil and gas sector. The crude prices continue to remain elevated as a result of the continued escalation of violence across West Asia. The surge in oil prices has a direct correlation with the oil marketing companies. The Govt announced Rs 10/liter excise duty cut on petrol and diesel prices to support oil marketing companies (OMCs), which are facing significant

losses due to a sharp rise in crude oil prices This is because retail pump prices have been kept

Stable despite the nearly 50% jump in crude rates.

Conclusion

From the impact of crude oil prices to management changes, these companies were searched most on Google trends for a host of reasons. Keep tracking the latest news on these companies on Financialexpress.com.