21.7 lakh shares of HDFC Bank were sold in a notable block deal on Tuesday, reports ET Now. This took the bank’s market capitalisation above Rs 14 lakh crore during morning trade, and shares rose 2% to Rs 1,837 on the BSE.
While the identities of the buyers and sellers involved in the transaction have been kept secret, the deal is valued at Rs 392 crore based on the company’s closing price of Rs 1804.55 on the previous day.
The deal reflects strong investor interest in HDFC Bank, which has seen its share price rise 14% in the past one year. However, this growth lagged the broader NSE Nifty 50, which rose 18% during the same period.
The bank’s market capitalisation last crossed the Rs 14 lakh crore mark during intraday trade on November 28, before the stock closed below Rs 1,800.
This came soon after a remarkable rally on November 25, when the stock jumped above Rs 1,800 to hit a new all-time high. The surge was driven by exceptional trading volumes linked to MSCI’s November rebalancing, which increased the bank’s index weightage and attracted passive inflows of an estimated $1.88 billion.
HDFC Bank shares upsurge 2% after big block deal; market cap crosses Rs 14 lakh crore
