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HDFC stock falls after Sebi imposes Rs 1 cr fine for violating directions

On the BSE, shares of the private lender were trading at Rs 1,453.35 apiece, falling 1.39 per cent over the previous close

Topics
HDFC Bank | HDFC shares

Press Trust of India  |  New Delhi 

hdfc bank, bank braches, indian banks
On the NSE, the stock was trading at Rs 1,453.6, down 1.43 per cent.

Shares of on Friday fell by over 1 per cent in the late morning trade after imposed a penalty of Rs 1 crore for invoking securities pledged by stock broker BRH Wealth Kreators in violation of the regulator's interim directions.

On the BSE, shares of the private lender were trading at Rs 1,453.35 apiece, falling 1.39 per cent over the previous close.

Likewise, on the NSE, the stock was trading at Rs 1,453.6, down 1.43 per cent.

In an order on Thursday, noted that the instant proceedings have essentially arisen on account of non-conformity by with the directions contained in the interim order issued by against BRH Wealth Kreators and other entities on October 7, 2019.

In addition, the bank has been directed to transfer Rs 158.68 crore along with 7 per cent interest per annum into an escrow account till the issue of settlement of clients' securities is reconciled.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, January 22 2021. 12:30 IST
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