HDFC Bank shares soar on fund-raising

Shares of HDFC Bank rose today, a day after the lender hit the US and Indian markets to raise up to Rs 10,500 crore through issuance of equity shares and ADRs.
The stock was up 1.1 per cent in late morning trade at Rs 1,079 a piece at the BSE.
The country's most valuable bank had fixed a floor price of Rs 1,061.84 for the twin sale -- to raise up to Rs 2,000 crore through a qualified institutional placement here, and further up to Rs 8,500 crore from the US, where its ADRs are listed on the NYSE.
The stock hit an intra-day high of Rs 1,092 earlier in the opening trade.

Shares of its parent HDFC Ltd also rose 2 per cent to Rs 1,257.75 at the BSE.