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HDFC Bank surges 9% as RBI removes ban on FII investment

The stock surged 9.5% to Rs 1,450, also its fresh lifetime high on the BSE in early morning trade

SI Reporter  |  Mumbai 

HDFC Bank branch office in Mumbai
HDFC Bank branch office in Mumbai

surged 9.5% to Rs 1,450, also its fresh lifetime high on the BSE in early morning trade after the Reserve Bank of India (RBI) has removed it from ban list with immediate effect. 

The Reserve Bank of India has on Thursday after market hours notified that the aggregate foreign shareholding through American Depository Receipts (ADR)/Global Depository Receipts (GDR)/ Foreign institutional Investors (FIIs)/Foreign Portfolio Investors (FPIs)/ Foreign Direct Investment (FDI)/Non-Resident Indians (NRIs)/ Persons of Indian Origin (PIOs) in   have gone below the prescribed limit stipulated under the extant FDI Policy.


"Hence the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect," said.

As of December 31, 2016, the promoters held 26.09% stake in Foreign Portfolio Investors (FPI) held 39.20% stake, followed by mutual fund (11.82%), individual investors (10.92%) and insurance companies (2.96%).

At 09:23 am; the stock was up 8% at Rs 1,432 on the BSE as compared to 0.97% rise in the S&P BSE Sensex. The trading volumes on the counter jumped multiple folds with a combined 2.8 million shares changed hands on the NSE and BSE so far. On the National Stock Exchange (NSE), the stock hit high of Rs 1,454 in intra-day trade so far.

Meanwhile, a sharp rally in has surpassed Reliance Industries, the refinery giant, in overall market capitalization (m-cap) ranking.

with an m-cap of Rs 366,436 crore was number two position, ahead of the Reliance Industries  (m-cap of Rs 345,471 crore), BSE data show. Tata Consultancy Services (TCS) was at number one rank with m-cap of Rs 482,164 crore.
 

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HDFC Bank surges 9% as RBI removes ban on FII investment

The stock surged 9.5% to Rs 1,450, also its fresh lifetime high on the BSE in early morning trade

The stock surged 9.5% to Rs 1,450, also its fresh lifetime high on the BSE in early morning trade
surged 9.5% to Rs 1,450, also its fresh lifetime high on the BSE in early morning trade after the Reserve Bank of India (RBI) has removed it from ban list with immediate effect. 

The Reserve Bank of India has on Thursday after market hours notified that the aggregate foreign shareholding through American Depository Receipts (ADR)/Global Depository Receipts (GDR)/ Foreign institutional Investors (FIIs)/Foreign Portfolio Investors (FPIs)/ Foreign Direct Investment (FDI)/Non-Resident Indians (NRIs)/ Persons of Indian Origin (PIOs) in   have gone below the prescribed limit stipulated under the extant FDI Policy.

"Hence the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect," said.

As of December 31, 2016, the promoters held 26.09% stake in Foreign Portfolio Investors (FPI) held 39.20% stake, followed by mutual fund (11.82%), individual investors (10.92%) and insurance companies (2.96%).

At 09:23 am; the stock was up 8% at Rs 1,432 on the BSE as compared to 0.97% rise in the S&P BSE Sensex. The trading volumes on the counter jumped multiple folds with a combined 2.8 million shares changed hands on the NSE and BSE so far. On the National Stock Exchange (NSE), the stock hit high of Rs 1,454 in intra-day trade so far.

Meanwhile, a sharp rally in has surpassed Reliance Industries, the refinery giant, in overall market capitalization (m-cap) ranking.

with an m-cap of Rs 366,436 crore was number two position, ahead of the Reliance Industries  (m-cap of Rs 345,471 crore), BSE data show. Tata Consultancy Services (TCS) was at number one rank with m-cap of Rs 482,164 crore.
 
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Business Standard
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HDFC Bank surges 9% as RBI removes ban on FII investment

The stock surged 9.5% to Rs 1,450, also its fresh lifetime high on the BSE in early morning trade

surged 9.5% to Rs 1,450, also its fresh lifetime high on the BSE in early morning trade after the Reserve Bank of India (RBI) has removed it from ban list with immediate effect. 

The Reserve Bank of India has on Thursday after market hours notified that the aggregate foreign shareholding through American Depository Receipts (ADR)/Global Depository Receipts (GDR)/ Foreign institutional Investors (FIIs)/Foreign Portfolio Investors (FPIs)/ Foreign Direct Investment (FDI)/Non-Resident Indians (NRIs)/ Persons of Indian Origin (PIOs) in   have gone below the prescribed limit stipulated under the extant FDI Policy.

"Hence the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect," said.

As of December 31, 2016, the promoters held 26.09% stake in Foreign Portfolio Investors (FPI) held 39.20% stake, followed by mutual fund (11.82%), individual investors (10.92%) and insurance companies (2.96%).

At 09:23 am; the stock was up 8% at Rs 1,432 on the BSE as compared to 0.97% rise in the S&P BSE Sensex. The trading volumes on the counter jumped multiple folds with a combined 2.8 million shares changed hands on the NSE and BSE so far. On the National Stock Exchange (NSE), the stock hit high of Rs 1,454 in intra-day trade so far.

Meanwhile, a sharp rally in has surpassed Reliance Industries, the refinery giant, in overall market capitalization (m-cap) ranking.

with an m-cap of Rs 366,436 crore was number two position, ahead of the Reliance Industries  (m-cap of Rs 345,471 crore), BSE data show. Tata Consultancy Services (TCS) was at number one rank with m-cap of Rs 482,164 crore.
 

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Business Standard
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