Home >Markets >Stock Markets >China's central bank raises HDFC stake to over 1%

NEW DELHI : People's Bank of China (PBOC) has raised its stake in India’s top mortgage lender Housing Development Finance Corp Limited (HDFC) to 1.01% from 0.8% earlier, according a regulatory filing.

The China’s central bank now holds nearly 1.75 crore equity shares in HDFC Ltd, according to the shareholding pattern disclosed for the quarter ending March 2020 by the latter to the stock exchanges.

As per the latest shareholding pattern, foreign portfolio investors hold 70.88% stake in the HDFC Ltd including 3.2% stake of the Government of Singapore.

HDFC Ltd owns 19.43% stake in HDFC Bank and 52.7% in HDFC Asset Management Company and 51.45% in HDF Life Insurance Company.

The mortgage lender's shares have plummeted over 25% in March 2020 amid sell-off across global markets as fears of the economic damage from the coronavirus pandemic firmed up.

The shares of HDFC Ltd closed 9.2% higher at 1701.95 apiece on the BSE, while the benchmark Sensex closed 4.2% higher at 31,159.62 points in Thursday’s trading session.

As per HDFC's closing price on the BSE on Thursday, the Chinese central bank's stake is worth nearly 3,000 crore. The mortgage lender's equity base comprises 1.72 billion equity shares.

Stock exchanges were closed for trading on 10 April on account of Good Friday.

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