HDFC bucks the trend

DALAL STREET SPIKES

This gain comes on the back of reports that the company is planning to raise its stake in HDFC Bank, by listing its life insurance subsidiary by the end of next year and its mutual fund arm (HDFC Mutual fund) even earlier.

HDFC's shareholding in its banking affiliate had fallen after the merger of Centurion Bank with HDFC Bank. The stock hit an intraday high of Rs 2,244 and a low of 2,140. The scrip has declined by 17.61 per cent in the last one month.