HDFC Bank slips as fresh shares admitted for trading

HDFC Bank declined 0.71% to Rs 1,056.05 at 09:50 IST on BSE as fresh shares allotted by the private sector bank to institutional investors recently were admitted for trading on the bourses today, 12 February 2015.

Meanwhile, the BSE Sensex was up 17.33 points, or 0.06%, to 28,551.30

On BSE, so far 11,779 shares were traded in the counter, compared with an average volume of 1.89 lakh shares in the past one quarter.

The stock hit a high of Rs 1,065.65 and a low of Rs 1,056.05 so far during the day. The stock hit a record high of Rs 1,099.70 on 29 January 2015. The stock hit a 52-week low of Rs 629.60 on 14 February 2014.

The stock had underperformed the market over the past one month till 11 February 2015, rising 3.38% compared with 3.92% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 5.56% as against Sensex's 2.24% rise.

The large-cap private bank has equity capital of Rs 483.76 crore. Face value per share is Rs 2.

Shares allotted by HDFC Bank to institutional investors under Qualified Institutional Placement (QIP) were admitted for trading on the bourses today, 12 February 2015. A total of 1.87 crore shares of the private sector bank were admitted for trading. HDFC Bank had priced the issue of shares to institutional investors at Rs 1,067 per share. Shares of HDFC Bank had risen 0.27% to settle at Rs 1,058.50 on BSE yesterday, 11 February 2015.

It may be recalled that HDFC Bank had early this month raised Rs 2000 crore from the QIP issue. The private sector bank had also raised about $1.27 billion from issue of American Depository Receipts (ADR) early this month.

HDFC Bank's net profit rose 20.1% to Rs 2381.46 crore on 16.4% rise in total income to Rs 13894.73 crore in Q2 September 2014 over Q2 September 2013.

HDFC Bank is a leading private sector bank in India.

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