HDFC Bank Share has been falling for the last five days, the market is getting bearish because of the massive fall in the HDFC Bank share price. But as per the current news, the public sector insurance company LIC going to acquire stakes in the HDFC Bank. Today, RBI approved a maximum 9.99% stake acquisition. Let’s know all the details here and explore brief details about this investment by LIC.
In the latest quarter results, HDFC Bank has marked a 2.65% consolidated net profit rise which is ₹17,258. Along with it, the net income has grown by ₹28,470 crore. However, after the results, the share price has fallen for the past few days.
The approval is subject to the conditions including compliance with the provisions of the Banking Regulation Act, 1949, the RBI’s Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies dated January 16, 2023, provisions of the Foreign Exchange Management Act, 1999, and provisions of the regulations issued by Securities and Exchange Board of India.
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