1 min read.Updated: 04 Apr 2022, 12:47 PM ISTLivemint
HDFC Bank shares jumped as much as 15%, while that of HDFC Ltd surged 19% after the merger announcement
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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.