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HDFC Bank falls nearly 5% from its intra-day's high

The stock dipped 2.5% at Rs 2,058, falling 4.6% from its early morning high of Rs 2,157 touched on the NSE.

SI Reporter  |  Mumbai 

hdfc bank

Shares of have slipped by 2.5% at Rs 2,058 per share, falling 4.6% from their early morning high on the National Stock Exchange (NSE), after more than 10-million equity shares changed hands on the counter through multiple block deals.

Till 10:17 am; around 13.41 million equity shares representing 0.63% of total equity of have changed hands on the NSE, the exchange data shows.

The stock of had hit a high of Rs 2,157 on the in intra-day trade earlier today. On the BSE, the stock hit an intra-day low of Rs 2,059, falling 5% from its new high of Rs 2,170 recorded in early morning trade today.

had outperformed the market by surging 5% in last week on expectation of huge demand for the bank stock when the window opens for foreign portfolio investors (FII) buying. On comparison, the S&P Sensex was up 0.87% during the week.

According to Business Standard report, the allotment of employee stock options (ESOPs) has created 143 basis points (bps) headroom for in HDFC Bank. This has created a last minute rush among FIIs wanting to buy HDFC Bank shares.

According to information on the websites of National Securities Depository (NSDL) and Central Depository Services (CDSL), both responsible for monitoring of FPI shareholding in listed firms, room has been created to buy 43.6 million shares (1.68% stake) in the country’s highest valued bank has been created.

On Friday, for the first time, both NSDL and CDSL put out a so-called ‘red flag’ list of companies where the aggregate FPI investment limit had dropped below the permissible cap. Beside HDFC Bank, IndusInd Bank (2.1% room available) and Sunteck Realty (1.25%) are among the other stocks where new FPI buying will be permitted, the Business Standard reported. CLICK HERE TO READ FULL REPORT

At 10:36 am; the HDFC Bank was trading 1.4% lower at Rs 2,082 on the NSE, as compared to 0.04% rise in the Nifty 50 index.

IndusInd Bank too trading 1% lower at Rs 1,903 on the NSE, after hitting high of Rs 1,963 in intra-day trade. The stock touched a low of Rs 1,892 in intra-day trade so far. A combined 455,931 equity shares changed hands on the counter on the and

First Published: Mon, June 04 2018. 10:39 IST