(Image source from: Twitter.com/HomeLoansByHDFC)
All contacts including the Housing Development Finance Corp (HDFC) expired on July 12th according to NSE & BSE. HDFC shares stopped trading in the share market as HDFC Bank and HDFC Ltd completed their merger. This comes to an end of a four-decade of long journey.
Under Deepak Parekh, HDFC was incorporated on October 17, 1977 and gave its first home loan in 1978 in Mumbai. HDFC crossed annual loan approvals of Rs 100Cr in 1984, a landmark. HDFC has a market capitalisation of over Rs 5 Lakh Cr.
On Monday, HDFC Bank hit a record price of Rs 1,758 in the intra-day and set down at Rs 1,719.5 by the end with a 1.5 per cent up. HDFC Ltd has hit a year high of Rs 2,926 in intra-day and closed at Rs 2,871 with 1.7 per cent up.
Recently HDFC is seeing up trend in Nifty, Nifty Bank index and Sensex. Now HDFC Ltd shareholders will be issued and allotted shares of HDFC Bank. The shareholders of HDFC Ltd will have 41 per cent of HDFC Bank Ltd. There will be certainly a volatile market, but for now, the share will see bullish on the stock for the medium to long term.
