 "HDFC Bank nears record high as FIPB clears FDI proposal")
Shares in HDFC Bank have moved higher by nearly 3% to Rs 965 on NSE, after the Foreign Investment Promotion Board (FIPB) cleared the proposal of bank to expand its equity base by up to Rs 10,000 crore.
The stock opened at Rs 954 and touched a low of Rs 942 in early morning trade on NSE. It touched a record high of Rs 966 touched on November 28, 2014.
The board, headed by Economic Affairs Secretary Rajiv Mehrishi, has approved the bank’s proposal, sources said, adding the bank requires FIPB nod for expanding equity before Cabinet Committee on Economic Affair’s clearance, the PTI report suggests.
HDFC Bank sought fresh FIPB clearance for expanding equity. It already has shareholders' nod to raise up to Rs 10,000 crore by July, added report.
The stock opened at Rs 954 and touched a low of Rs 942 in early morning trade on NSE. It touched a record high of Rs 966 touched on November 28, 2014.
The board, headed by Economic Affairs Secretary Rajiv Mehrishi, has approved the bank’s proposal, sources said, adding the bank requires FIPB nod for expanding equity before Cabinet Committee on Economic Affair’s clearance, the PTI report suggests.
HDFC Bank sought fresh FIPB clearance for expanding equity. It already has shareholders' nod to raise up to Rs 10,000 crore by July, added report.
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