People’s Bank of China Holds 1% Stakes in HDFC

Sharing is caring!

In a major development for the Indian financial sector, the People’s Bank of China has taken up 1.01 per cent stake in the lending major Housing Development Finance Corporation (HDFC).

The central bank of China has acquired nearly 1.75 crore shares in HDFC during the quarter ended March, according to data submitted by the company at the BSE.

Speaking to CNBC TV-18, HDFC CEO Keki Mistry said that PBOC is an existing shareholder and had owned 0.8% stake in the company earlier.

Well, 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.

Foreign portfolio investors hold 70.88 per cent stake in the company which also includes a 3.23 per cent shareholding of the Government of Singapore.

Currently, the shares of HDFC are at Rs 1,701.95 per share on the BSE.

The People’s Bank of China holds stakes in companies across the world, including BP Plc and Royal Dutch Shell Plc.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: