HDFC Bank dips nearly 2% as DIPP rejects proposal to hike FII limit

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HDFC Bank dips nearly 2% as DIPP rejects proposal to hike FII limit
Shares of HDFC Bank fell nearly 2 per cent in early trade on Bombay Stock Exchange (BSE) after, the Department of Industrial Policy and Promotion (DIPP) stated that HDFC Bank cannot increase foreign holding in the bank to 74 per cent from 49 per cent.

The shares of Bank fell as much as 1.01 per cent to trade at Rs 717.95 a piece on the BSE. In a similar fashion, shares of the Bank fell 0.99 per cent to Rs 718.05 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 22,505.67, down 125.94 points or 0.56 per cent at 10.58 hours.

Dion Global Solutions Ltd.

Read more about: hdfc bank, dipp, fdi, fii, bse, nse, sensex
Story first published: Tuesday, April 29, 2014, 12:20 [IST]
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