People's bank of China acquires 1% of stakes in HDFC

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People's bank of China acquires 1% of stakes in HDFC
People's bank of China acquires 1% of stakes in HDFC

New Delhi : In a major announcement for the India's financial sector, People's Bank of China has acquired 1.01 per cent stake in the lending major Housing Development Finance Corporation (HDFC).

Nearly, 1.75 crore shares of HDFC were bought by the central bank of China central bank of China, according to shareholding pattern of the company disclosed to the BSE.

The development comes at a time when the share price of the lender plunged. During the past one month the stock prices of HDFC fell over 25 per cent amid the beating across stocks due to the coronavirus crisis.

Currently, per share cost of HDFC stands at Rs 1701.95 at the BSE.

The development comes at a time when the share price of the lender plunged. During the past one month the stock prices of HDFC fell over 25 per cent amid the beating across stocks due to the coronavirus crisis.