Tuesday, November 24, 2020
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China central bank sells stakes in HDFC amidst tension with India

China central bank: ‘People Bank of China’ sold some or entire stake in the country’s largest mortgage lender HDFC during the April-June quarter, showed the latest shareholding data.

Shareholding disclosures on the stock exchanges highlight only those investors who own more than 1% stake. The exact quantum of shares sold by the Chinese central bank can’t be told at the moment.

China central bank sold stakes to HDFC

China central bank ‘The People Bank of China’ may have sold at least a part of its shares in the open market to HDFC Bank. HDFC shares fell as much as 2.2 per cent in Mumbai in early trading Friday. The stock dropped 40 per cent from its January record high to its April low but has since rebounded 27 per cent.

More: China Rocket failure news: Satellite Kuaizhou 11 Fails in middle

Earlier investment trends 

China central bank ‘People Bank of China’ had increased its stake in India’s largest shadow lender in the 12 months ended March. Government in April tightened rules on investments in its companies from neighboring nations including China in a bid to reduce the risk of opportunistic takeovers amid coronavirus-led share price drops.

It is mandatory for publicly-traded companies in India to disclose shareholdings of more than 1 per cent at the end of every quarter. HDFC’s global institutional holders as of the latest statement include the Government of Singapore as well as funds run by Vanguard and Invesco Oppenheimer.


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