11.8 C
New York
Saturday, October 31, 2020
Home Trends People's Bank of China now owns 1.01 pc stake in HDFC

People’s Bank of China now owns 1.01 pc stake in HDFC

The People’s Bank of China (PBOC) has bought 1.01 per cent stake in the Housing Development Finance Corporation (HDFC).

PBOC held 1.75 crore shares of HDFC during the quarter that ended in March, according to the data submitted by the company to the BSE.

HDFC Vice Chairman and CEO Keki Mistry said the PBOC has been an existing shareholder and had owned 0.8 per cent in the company as of March 2019.

“The disclosure has been made now since the stake has hit the 1 per cent regulatory threshold. They have been accumulating the shares over a year and are now holding 1.01 per cent,” added Mistry.

Due to the coronavirus crisis, HDFC shares fell nearly 39.87 per cent this year from a high of Rs 2,493 to a low of Rs 1,499 last week. The stock rallied 13.54 per cent last week to close at Rs 1,702 on Thursday. Foreign portfolio investors hold a 70.88 per cent stake in the company.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Most Popular

E dukan on rent- your business, your brand. Take your dukan online! 

A year ago, nobody would have thought the world will change like this. But here we are living a life that people call new...

The pregnant deer – A beautiful management story

In a forest, a pregnant deer is about to give birth. She finds a remote grass field near a strong-flowing river. This seems a safe place. Suddenly...

Here’s the effect of COVID-19 on the Aviation and Shipping Industry!

The COVID-19 (coronavirus pandemic) has an adverse effect on the world's Economy and Trade. According to the reports, global economic growth is...

Top 4 cities in India to start a startup

India is an amazing place where you can start your start-up for the very first time. When it comes to counting the...

Recent Comments

%d bloggers like this: