Shares in the country's largest home finance company, Housing Development Finance Corporation (HDFC) fell, after the institution said it is making an additional one time provision.
The shares were last trading at Rs 1074, down 2.5 per cent on the National Stock Exchange. "With the objective of further strengthening balance sheet, the Corporation believes that it will be prudent to utilize a part of exceptional gains to build an additional buffer against any unexpected risk in the future," said HDFC
Shares in HDFC have come in for some selling pressure in the last few months, in line with the markets. The company has been one of the favorites with Foreign institutional Investors, though there have been some downgrades recently.