What merger with HDFC means for HDFC Bank shares?1 min read 04 Apr 2022, 12:40 PM IST
HDFC Bank shares jumped as much as 15%, while that of HDFC Ltd surged 19% after the merger announcement
HDFC Bank has approved merger with HDFC Investments Limited and HDFC Holdings Limited. Post-merger HDFC Limited will hold 41% stake in HDFC Bank. This shall enable the bank to build its housing loan portfolio and enhance its existing customer base. HDFC Bank shares jumped as much as 14.4%, while HDFC Ltd surged 19.6% after the merger announcement.
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