With Finance Minister Nirmala Sitharaman announcing the Union Budget for 2019-20, Stock price of HDFC Bank fell by 0.15% to open at 2,281.25. The price closed at 2,480.00.
The BSE group ‘A’ stock of face value Rs 2 has touched a 52-week high of Rs 2,503.30 on 3 July 2019 and a 52-week low of Rs 1,884.40 on 31 October 2018. The stock has returned nearly 21% to investors in the last one year compared with a 12% rise in the Nifty 50 index.
Follow all latest updates from Union Budget 2019 here.
HDFC Bank Ltd was in news recently when some media reports claimed that the lender is planning to launch Rs 10,000-crore initial public offering (IPO) of its non-banking finance unit (NBFC), HDB Financial Services, before 31 March 2020.
Bloomberg reported on Wednesday that HDFC Bank had already appointed Bank of America Merrill Lynch and Morgan Stanley to manage HDB Financial’s IPO. The share sale will help HDFC Bank raise funds to expand lending as many NBFCs grapple with a liquidity crunch in the country.
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.
Comments
0 comment