HDFC Bank fell 0.66% to Rs 1,202 after Aditya Puri, the managing director and CEO of HDFC Bank, sold off part of his equity stake in the bank on 11 and 12 February 2020.
The banker sold 12.52 lakh equity shares through the open market. He sold 9.01 lakh shares on 11 February and 3.5 lakh shares on 12 February.Before selling the shares, Puri reportedly held 77.45 lakh shares or 0.14% of bank's equity capital.
"Puri intends to sell some more equity shares of the bank held by him through previous stock options, primarily to exercise stock options already vested in his name, the bank said in a filing after trading hours yesterday, 24 February 2020.
In the past one month, the HDFC Bank scrip declined 3.38%. On the technical front, the stock's RSI (relative strength index) stood at 37.469. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
On a standalone basis, HDFC Bank's net profit soared 32.8% to Rs 7,416.48 crore on a 17% jump in total income to Rs 36,039 crore in Q3 December 2019 over Q3 December 2018.
HDFC Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The bank's segments include treasury, retail banking, wholesale banking and other banking business.
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