Shares of HDFC Asset Management Company (AMC) surged 8% after the UK-based Abrdn Investment Management, which held a 10.2% stake in the company, sold its entire stake via block deals, exiting the company. The offer price was set at Rs 1,800- Rs 1,892.45 per share, down 4.9% from the closing price on June 19, 2023. This is the second stake sale for Abrdn following its exit from HDFC Life via open market transactions.
Abdrn, Bestinver buy highway PPP in Uruguay latinfinance.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from latinfinance.com Daily Mail and Mail on Sunday newspapers.
Shares of HDFC Life Insurance were in focus today after the insurance sector regulator IRDAI gave its final approval to merge Exide Life into the company. HDFC Life Insurance stock gained 2.5 per cent to Rs 533.45 against the previous close of Rs 520.65 on BSE. The stock has fallen 25 per cent in 2022 and lost 19.75 per cent in a year.Total 0.12 lakh shares of the firm changed hands amounting to a turnover of Rs 62.58 crore on BSE. Market cap of the firm rose to Rs 1.13 lakh crore on BSE.
Royal Dutch Shell hit back on Thursday against an activist fund's call for the company to break up, with top executives saying its businesses operate better together than apart.