HDFC Life Insurance Company slumped 5.08% to Rs 453.20 after the media reported that promoter Standard Life will sell up to 5 crore shares or 2.5% equity stake in the company.
On BSE, over 5.4 crore shares were traded in the HDFC Life counter so far, a 158.03 times surge over two-week average daily volume of 3.42 lakh shares.
After opening at Rs 455, the scrip touched a high of Rs 483.90 and low of Rs 441 so far.
On a consolidated basis, the company reported 2.66% rise in net profit to Rs 251.09 crore on a 25.29% increase in total income to Rs 11768.90 crore in Q3 December 2019 over Q3 December 2018.
HDFC Life Insurance Company provides various individual and group insurance solutions across India.
As on 31 December 2019, Standard Life (Mauritius Holdings) 2006 held 14.73% stake while Housing Development Finance Corporation (HDFC) held 51.45% stake in HDFC Life Insurance Company.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app