HDFC Bank Share Price: A Steep Decline Leaves Investors Worried 😟
HDFC Bank, the country’s largest private sector bank, has been experiencing a continuous decline in its share price, causing significant losses to investors. In the past few quarters, HDFC Bank’s shares have witnessed a considerable drop, leading to a decrease in its market capitalization to Rs. 10.90 lakh crore. However, this decline in share price has not been consistent.
LIC, the largest insurance company in the country, recently received RBI’s green signal to acquire a 9.99% stake in HDFC Bank. On the other hand, the Reserve Bank of India has granted LIC permission to participate in the voting rights of HDFC Bank Limited or HDFC Bank Capital. This approval was given in relation to LIC’s application submitted to RBI.
Will RBI’s decision affect the share price? 🤔
After receiving approval from the Reserve Bank of India, there is a possibility of an upward trend in HDFC Bank’s share prices. On Thursday, HDFC Bank’s share closed at Rs. 1,435.3 on BSE, witnessing a 1.4% decline. However, after the announcement of December quarter results on Monday, there is a likelihood of a surge in HDFC Bank’s shares.
HDFC Bank’s shares have fallen by more than 14% in the past month, dropping from Rs. 1,703 on December 27, 2023, to Rs. 1,440 per share. In the last five days alone, the share price has declined by more than 4%.
Voting rights received 🗳️
With the approval from the Reserve Bank of India, LIC will now have voting rights as a shareholder in HDFC Bank. This will allow LIC to participate in the bank’s decision-making process. Additionally, RBI has advised LIC to acquire a significant stake in the bank by January 24, 2024. However, LIC must ensure that its total shareholding does not exceed 9.99% of the bank’s paid-up capital or its voting rights.
Decorated Title: 📈 HDFC Bank Share Price 27 January 2024: A Steep Decline Leaves Investors Worried 😟
Note: The news has been creatively presented with the use of emojis and HTML formatting to make it visually appealing and engaging for the reader.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
