Business Standard

HDFC shares fall 2% after block deals

Related News

About 20 million shares of Housing Development Finance Corp (HDFC), India's top mortgage lender, changed hands in on Wednesday, sending the share price down more than 2%.

The block deals represent about 1.3% of the company's outstanding share capital.

US private equity investor plans to reduce its stake in HDFC via stock market sales that could raise up to $283 million, Keki Mistry, the chief executive of the Indian mortgage lender said citing market sources on Tuesday.

Carlyle, which currently owns 5.2% of HDFC, will pare its stake in the mortgage lender to nearly 4% after a sale of shares via block deals, sources with direct knowledge of the matter told Reuters on Tuesday.

The buyers of the shares include domestic as well as foreign investors, Mistry told Reuters.

Shares in HDFC were down 2.2% at Rs 682.60 by 9:30 am in a Mumbai market down 0.5%.

Read more on:   
|
|
|
|

HDFC shares fall 2% after block deals

About 20 million shares of Housing Development Finance Corp (HDFC), India's top mortgage lender, changed hands in block deals on Wednesday, sending the share price down more than 2%.

About 20 million shares of Housing Development Finance Corp (HDFC), India's top mortgage lender, changed hands in on Wednesday, sending the share price down more than 2%.

The block deals represent about 1.3% of the company's outstanding share capital.

US private equity investor plans to reduce its stake in HDFC via stock market sales that could raise up to $283 million, Keki Mistry, the chief executive of the Indian mortgage lender said citing market sources on Tuesday.

Carlyle, which currently owns 5.2% of HDFC, will pare its stake in the mortgage lender to nearly 4% after a sale of shares via block deals, sources with direct knowledge of the matter told Reuters on Tuesday.

The buyers of the shares include domestic as well as foreign investors, Mistry told Reuters.

Shares in HDFC were down 2.2% at Rs 682.60 by 9:30 am in a Mumbai market down 0.5%.

image

Read More

M&M gains on post February sales numbers

The company reported 11% year-on-year growth in its auto sales numbers at 47,824 units in February 2013.

Recommended for you

Advertisements

Quick Links

Market News

Tech Mahindra shares tumble most in six years on earnings dip

Company on Tuesday reported a net income of Rs 472 cr ($74 million) for the quarter ended March 31, missing the median Rs 723 cr forecast by 35 ...

NSE launches roll-over facility in SLB

New facility would allow market participants to carry forward existing position taken in current month by two additional months

Nifty ends below 8,350 ahead of May F&O expiry

The Sensex ended the session at 27,564.66, higher by 33.25 points or 0.12% and the Nifty settled at 8,335 down 5 points

Markets end flat; Nifty ends below 8,350

Provisionally, the Sensex gained 34 points to end at 27,565, while the Nifty ended unchanged at 8,338.

Gail (India) dips post Q4 results

The stock weakened by 2% at Rs 379 after reported a lower than expected net profit at Rs 511 crore in March quarter.

 

Back to Top