Bandhan Bank share price rose more than 3 percent intraday on April 8 after HDFC sold 3 percent stake in the lender through block deals.
Shares of Bandhan Bank Ltd recorded a series of block deals on Friday with around 49.7 million shares or 3 percent stake in the bank changing hands in bunched trades, Bloomberg reported.
HDFC likely to have sold part stake in Bandhan Bank as HDFC had to sell the stake in Bandhan Bank post the merger announcement, quoting Sources, reported CNBC-TV18.
HDFC needed to pare stake to under 5 percent in light of proposed merger and its holding in Bandhan Bank to fall below 5 percent after today’s block deal, sources said.
Housing Development Finance Corporation was quoting at Rs 2,447.80, down Rs 14.85, or 0.60 percent and Bandhan Bank was quoting at Rs 325.10, up Rs 9.55, or 3.03 percent.
At 9:41am, Bandhan Bank was quoting at Rs 327.10, up Rs 11.55, or 3.66 percent on the BSE.
The share touched a 52-week high of Rs 364.85 and a 52-week low of Rs 229.65 on 09 April, 2021 and 27 December, 2021, respectively. Currently, it is trading 10.35 percent below its 52-week high and 42.43 percent above its 52-week low.
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