At the end of Q3FY24, LIC held 340,921,284 shares, representing a 5.19% stake in the Bank. The estimated value of this stake, based on the Thursday closing price of the stock, stands at ₹48,836 crore. With this approval, LIC can now buy an additional 4.8% stake.
HDFC share news: After the $40 billion reverse merger deal concerning the HDFC twins, the new shares of HDFC Bank that were issued to shareholders of HDFC Ltd have listed on the bourses of the country on Monday. With this, the bank has secured a spot in the exclusive global club of companies with $100 billion market capitalisation, Economic Times reported., Companies News, Times Now
The Reserve Bank of India (RBI) has eased regulatory restrictions on HDFC Bank and Housing Development Finance Corporation (HDFC) to expedite their ongoing merger which is set to close by July 2021. HDFC Bank or HDFC Limited can control more than 50% of HDFC Life Insurance Company Limited and HDFC ERGO General Insurance Company Limited, confirms RBIs new guideline. , Companies News, Times Now
“Yes, we lost customer market share in the last 9/10 months, but I am confident that we will regain and grow our customer market share and revenue market share in the time to come. We have the resources and plans in place to further reinforce our pole position in the credit card segment,” HDFC Bank MD Sashidhar Jagdishan said in a letter to employees.