/ HDFC Bank Moves Up On Gett ing Nod To Raise Rs 15,500 crore via QIP ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 14 June 2018

HDFC Bank is currently trading at Rs. 2042.00, up by 6.75 points or 0.33% from its previous closing of Rs. 2035.25 on the BSE.The scrip opened at Rs. 2038.00 and has touched a high and low of Rs. 2045.00 and Rs. 2030.00 respectively. So far 26410 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2170.05 on 04-Jun-2018 and a 52 week low of Rs. 1644.05 on 30-Jun-2017.Last one week high and low of the scrip stood at Rs. 2,062.35 and Rs. 2027.00 respectively. The current market cap of the company is Rs. 529836.56 crore.

The promoters holding in the company stood at 25.60%, while Institutions and Non-Institutions held 55.53% and 18.87% respectively.

HDFC Bank has received government’s approval to sell fresh shares in India and abroad in what could result in the country’s largest qualified institutional placement (QIP). The cabinet approved the proposal on June 13, subject to overseas ownership limits.

The approval includes an Rs 8,500 crore infusion from parent Housing Development Finance Corp (HDFC), which will allow it to maintain its 25.6% current shareholding, potentially leaving about Rs 15,500 crore to be raised from the market.

HDFC Bank is one of India’s premier banks providing a wide range of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.

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