Foreign institutional investors (FII) bought shares worth Rs 2,024.05 crore, whereas domestic institutional investors (DII) sold shares worth Rs 1,991.35 crore on June 27, provisional data from the National Stock Exchange shows.
India Business News: MUMBAI: HDFC, India’s first mortgage institution, which has helped over 1 crore Indians buy homes since the late ’70s, will cease to exist after this .
HDFC-HDFC Bank merger: Once the deal is effective, HDFC Bank will be 100 per cent owned by public shareholders, and existing shareholders of HDFC will own 41 per cent of the bank.
HDFC-HDFC Bank merger: In a press conference on June 27, HDFC's chairman Deepak Parekh said that the board of these two companies will meet on June 30 to finalise the merger and it will be effective on July 1
CLSA, a brokerage firm, has given an Underperform rating on HDFC Life Insurance Company, stating that it sees limited potential for the stock s upside. CLSA has set a price target of Rs 680, predicting a 2% increase from the stock s closing price on Tuesday. While Jefferies and Kotak Institutional Equities have taken a Buy stance on the stock with higher price targets, HDFC Life shares fell on Wednesday as investors looked to book profits. On Tuesday, HDFC bought an additional stake in its subsidiary HDFC Life through open market transactions.