People's Bank of China (PBoC) has sold a part or all of its stake in Housing Development Finance Corporation (HDFC) in the April-June quarter.
According to the latest data disclosed by the lender to the stock exchanges, PBoC was not among key shareholders of HDFC as of 30 June 2020. Shareholding disclosures on the stock exchanges highlight only those investors who own more than 1% stake.PBOC held 1.01% stake in HDFC as on 31 March 2020. As a result, the holding of foreign portfolio investors in HDFC declined to 70.17% as on 30 June 2020 against 70.88% in the preceding quarter ended 31 March 2020.
Shares of HDFC fell 3.03% to 1883.20 on the BSE. It has traded in the range of Rs 1877.10 and Rs 1932 so far during the day.
HDFC is engaged in financing by way of loans for the purchase or construction of residential houses, commercial real estate and certain other purposes, in India.
The company's standalone net profit fell 22% to Rs 2,232.53 crore on a 3.4% rise in total income to Rs 11,981.66 crore in Q4 FY20 over Q4 FY19.
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