HDFC, HDFC Bank fall 5% each, HDFC hits 52-week low

HDFC slipped to eleventh position in overall m-cap ranking with around Rs 108,000 crore m-cap.

Shares of Housing Development Finance Corporation (HDFC) and HDFC Bank have dipped more than 5% each on the Bombay Stock Exchange (BSE).

HDFC has tanked 6.5% at Rs 695, also its 52-week low on BSE. A sharp decline in market price has seen the country's largest mortgage lender out of top 10 biggest stocks in terms of market capitalization (m-cap).

HDFC has now slipped to eleventh position in overall m-cap ranking with around Rs 108,000 crore m-cap at 1135 hours. Currently, HDFC stands behind to Wipro, Bharti Airtel and Hindustan Unilever.

The stock has underperformed the market by falling nearly 14% in past one month as compared to 8.5% decline in benchmark S&P BSE Sensex. The stock has fallen 25% from its 52-week high of Rs 931 touched in May this year.

Meanwhile, HDFC Bank too, trading lower by 5.2% at Rs 578 on BSE. The stock opened at Rs 604 and hit a low of Rs 576 so far. The stock hit 52-week low of Rs 566 on August this year.