HDFC Bank is the country's largest private sector bank with market value of over Rs 6 lakh crore.HDFC Bank shares clocked mild gains as theywent ex-split in trade on Thursday.
HDFC Bank shares traded ex-split for the first time in trade, which means that their face value was sub-divided from Rs 2 to Rs 1.
HDFC Bank's board had approved the share split at its annual general meeting (AGM) held on July 12 this year.HDFC Bank shareholders will now have two shares of face value of Re 1 each instead of one share of face value of Rs 2.In the private sector lender's annual general meeting, HDFC Bank also got an approval from shareholders for issuing unsecured perpetual debt instruments, Tier II capital bonds and long-term bonds on a private placement basis, of an amount in aggregate not exceeding Rs.
50,000 crore.HDFC Bank shares had ended at Rs 2,187.75 on Wednesday.
On Thursday, the HDFC Bank stockopened at Rs 1,099.90 on the National Stock Exchange (NSE) and touched an intraday high of Rs 1,107.05 and a low of Rs 1,084.With a market capitalisation of more than Rs 6 lakh crore,HDFC Bank continues to be the country's largest private sector lender in terms of market value.Till Wednesday's closing price, HDFC Bank shares have so far this year advanced 3.04 per cent, outperfomring the benchmark Nifty index which has declined 1.45 per cent.HDFC Bank shares ended 0.56 per cent higher at Rs 1,100.05 on the NSE, outperforming the Nifty benchmark which settled at its lowest level recorded since February 19.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
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