HDFC Bank board may go for splitting stock into two later this month

The bank had posted a 23 per cent jump in its net profit to Rs 5,885.12 crore for the quarter ended March 2019.

HDFC Bank's board will consider splitting the bank's each share into two with a face value of Rs 1 later this month, the lender said Monday.

Now, one share of HDFC Bank has a face value of Rs 2. Its shares closed at Rs 2,328.40 apiece on the BSE, down 1.71 per cent.

"...we wish to inform you that the board of directors of the bank would inter-alia consider a proposal for sub-division of bank's equity shares from 1 (one) equity share of face value of Rs 2 each to 2 (two) equity shares of face value of Rs 1 each, at