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HDFC Bank’s shares fall after DBS sells stake

HDFC Bank’s shares fall after DBS sells stake
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First Published: Fri, May 08 2009. 10 06 PM IST
Updated: Fri, May 08 2009. 10 06 PM IST
Mumbai: HDFC Bank Ltd dropped the most since 30 March in Mumbai trading after DBS Bank Ltd sold its 2.73% stake in the lender for $260 million (Rs1,280 crore). HDFC Bank shares fell 2.83% to close at Rs1,143.50 in Mumbai trading on a day when the benchmark Sensex lost 1.98% to close at 11,876.43 points.
In Singapore, DBS Group Holdings Ltd suffered a 28% drop in first quarter profit. DBS reported on Friday earnings of 433 million Singapore dollars ($295 million) for the three months ended 31 March, down from profit of 603 million Singapore dollars a year ago.
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First Published: Fri, May 08 2009. 10 06 PM IST