HDFC Twin Share Price Correction Very Very Short Term: Keki Mistry

The sharp correction in HDFC twins post the merger announcement has been on account of the lack of communication on the merits of the same. This is due to the silent period just ahead of the quarterly results.

In order to instill confidence among investors and stakeholders, the group's vice chairman and CEO-Keki Mistry said all is well and the fall in the stock price is temporary. "The way I would say that this (fall in stock prices of HDFC Ltd and HDFC Bank) is very-very short term. We have not been able to communicate very clearly or in an articulate manner the merits of the merger because of the fact that we all have our (Q4) results", Mistry said at the Times Network India Economic Conclave on Friday.

HDFC Bank has already come out with its results on April 16 and HDFC results are scheduled to be released on May 2.

Ever since the announcement of the merger in early April, HDFC Bank shares have tumbled by more than 18%, while HDFC shares also registered a similar fall.

On April 4, HDFC Bank announced to take over HDFC for a financial consideration of $US 40 billion resulting in a financial service behemoth.

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