Chinese central bank hikes stake in HDFC to 1.01%

Chinese central bank hikes stake in HDFC to 1.01%

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Chinese central bank hikes stake in HDFC to 1.01%

Chinese central bank hikes stake in HDFC to 1.01%

The Chinese central bank has increased its stake in mortgage lender HDFC Ltd to over 1 per cent at the end of the March quarter, as per statutory disclosures.

People’s Bank of China’s holding in HDFC stood at 1,74,92,909 equity shares, accounting for 1.01 per cent of the share capital of the company as of March-end, as per exchange data.

Equity indices have corrected by a fourth in the last two months, as fears of coronavirus gripped investors globally, leading to heavy selling that possibly offered the bottom-fishing opportunities.

https://www.rediff.com/business/report/chinese-...

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