People's Bank of China purchases a 1% stake in HDFC
R Sinduja
News Editor
Image Credit: shortpedia
People's Bank of China has bought a 1.01% stake in HDFC. It is still not known whether the Chinese central bank has purchased all the shares between Jan & Mar. HDFC shares fell nearly 40% this year from Rs 2,493 to Rs 1,499 last week & closed at Rs 1,702. The Chinese bank holds 1.75 crore shares of India's biggest housing mortgage lender. ICBC & CIC had asked bankers for good investment opportunities in the financial services sector.
