HDFC Bank witnessed a sharp rise in share price on Friday after the Reserve Bank of India (RBI) notified that the aggregate foreign shareholding through American Depository Receipts (ADR) or Global Depository Receipts (GDR) and Foreign institutional Investors (FIIs), Foreign Portfolio Investors (FPIs), Foreign Direct Investment (FDI)/Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs) in HDFC Bank have gone below the prescribed limit stipulated under the extant FDI Policy.
Hence the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect.
Shares of HDFC Bank are trading at Rs 1,414.00, up Rs 91.55, or 6.92% at the Bombay Stock Exchange (BSE) on Friday at 9:36 a.m.
The scrip has touched an intra-day high of Rs 1,450.00 and low of Rs 1,414.00. The total volume of shares traded at the BSE is 1,238,745.
Total volume of shares traded on the bourses today was higher by 2,070.05% to 39,239,163 compared with 22-day average volume of 1,808,211.