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People's Bank Of China Divest Stake In HDFC In June Qtr


People's Bank of China (PBOC) trims its holding in the country's leading HFC company HDFC after a furore in April month.

Now as per the latest shareholding pattern in the June quarter, PBOC is no longer a stakeholder in the company. During the quarter ended March 2020, PBOC held 17.5 million shares, or 1.01 per cent stake in HDFC, valued at Rs 3,300 crore at current market rate.

People's Bank Of China Divest Stake In HDFC In June Qtr

So whether or not the bank still has a share in the bank cannot be said rightly as stock exchange disclosure norms provide for shareholders in a company who have a holding of over 1%. Further whatever be the quantum of sale the bank must have made a neat profit.

As the housing financier after slumping a great deal in March has rebounded sharply from its March 2020 lows.

Read more about: hdfc
Story first published: Friday, July 10, 2020, 13:11 [IST]
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