Ever since the country’s largest housing finance company HDFC Ltd merged with HDFC Bank, its shares have been falling continuously. Due to this, he has now been out of the top ten valuable companies of the stock market. Since April 4, 2022, the share price has decreased by 19 percent, due to which the market cap of the housing company has been cut by 90 thousand crores.
HDFC Limited is no longer in the top-10 companies in terms of market capitalization. The market capital of HDFC Limited has come down to 3.92 lakh crores now. Now the names of Reliance Industries, TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, Adani Green Energy, SBI, Bharti Airtel and Bajaj Finance are in the list of these top-10 companies.
Shares of HDFC Ltd also declined on Tuesday. By afternoon trade, it had lost 4.52 per cent. At around 1.30 pm on NSE, its share price fell to Rs. 2,161.25. Similarly, the shares of HDFC Bank are continuously declining. HDFC Bank investors have lost Rs 1.67 lakh crore so far.
Country’s leading home loan lender HDFC is merging with HDFC Bank. This has been approved by the board of Housing Development Financial Corporation (HDFC). Under the merger, 25 shares of HDFC Bank will be available instead of 42 shares of HDFC Bank. After the merger, the housing loan portfolio of HDFC Bank will be very strong. Along with this, HDFC customers will also get the benefit of this. After the merger, HDFC’s stake in HDFC Bank will increase to 41 per cent. Currently, the merger has to be approved by other regulators, including the Reserve Bank of India.
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