HDFC Bank and HDFC Ltd Merger
Today there is a huge bullish atmosphere in the shares of HDFC and HDFC Bank.
Big news has come from the stock market on Monday 4th April. HDFC Limited and HDFC Bank have announced a transformational merger.
After the merger of HDFC, HDFC's stake in HDFC Bank will be 41 percent. Housing Development Finance Corporation (HDFC) gave this information this morning.
In today's board meeting, approval has been given for the merger of HDFC with HDFC Bank. Due to this news, today there is a huge bullish atmosphere in the shares of HDFC and HDFC Bank.
HDFC and HDFC Bank Share Price
HDFC Bank and HDFC Ltd Share Prices Big Jump after Merger Announcement.
After the news of the merger, today HDFC's stock is trading with a gain of Rs 367.80 and HDFC Bank's share is trading with a gain of Rs 205.50.
Share Exchange Ratio of HDFC Bank and HDFC:
For 25 fully paid up equity shares of HDFC Bank with face value of Rs 2 each, HDFC Bank will get 42 fully paid up shares of face value of Re 1 face value.
HDFC said the proposed deal is aimed at improving HDFC Bank's housing loan portfolio and expanding its existing customer base.
According to sources, this merger of HDFC and HDFC Bank will be completed by the second or third quarter of the financial year 2024.
HDFC Bank share Details
NSE: HDFCBANK Work Area: Banking Mkt cap: 9.08LCr P/E ratio: 25.27 Div yield: 0.40% Today Open: 1,580.00 Today High: 1,722.10 Today Low: 1,562.55
HDFC HDFC Ltd share Details
NSE: HDFC Mkt cap: 4.83LCr P/E ratio: 22.48 Div yield: 0.86% Today's Open: 2,570.50 Today's High: 2,933.80 Today's Low: 2,570.50
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