HDFC gains 4 per cent on block deal

DALAL STREET SPIKES

Housing finance major HDFC was in the limelight on Wednesday, gaining 3.85 per cent on the back of a block deal of 1.16 crore shares on the Bombay Stock Exchange (BSE).

The stock hit an intra-day high of Rs 650 before closing at Rs 645.15. The counter witnessed a massive volume of 1.71 crore shares by the end of the trading session. According to information available from the BSE, a block deal close to 1.16 lakh shares was struck at a price of Rs 642 per share.

While Capital Research & Management Co A/c Europacific Growth Fund sold 11,607,500 shares, the same were picked by Capital Research & Management Co Capital World Growth & Income Fund Inc. Since morning HDFC has been among the top gainers among the BSE Sensex stocks.

In the last two trading sessions the stock has gained 10.25 per cent from Rs 585 on May 3 to today's close of Rs 645.15.