Latest Stock Market News

The stock quoted a 52-week high price of Rs 107.65 and a 52-week low of Rs 70.0.

Equity, currency and derivatives markets will be closed on April 14 and April 15 (Thursday and Friday) as Dalal Street will observe Mahavir Jayanti/Dr Baba Saheb Ambedkar Jayanti and Good Friday, respectively.

“The market probably wants to still believe that peak inflation this time around would be relatively lesser compared to what it has been in the past weeks. The market is taking comfort that even though inflation might be a little stretched for a while, India will probably end up better and that is simply because we did not really stimulate our economy as much as what some of the developed markets did.”

Data showed Khanna owned 1,39,873 shares or 1.13 per cent stake in the company at the end of the March quarter, down from 2,11,120 shares or 1.71 per cent as of December 2021 quarter.

Promoters held 29.33 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 52.41 per cent and 6.64 per cent, respectively.

The selling on Tuesday comes after many analysts said the upside in the HDFC Bank stock will be limited.

“The skill of a high class company is to expand cash on acquiring and still grow free cash flows at a 25% rate and that in a way is the Sachin Tendulkar type company that we all aspire to invest in and compound our wealth. On that metric, the HDFC Bank-HDFC deal looks very attractive.”

The benchmark rose as much as 0.8% earlier in the session, but pared gains after the Reserve bank of Australia (RBA) kept its cash rate at 0.1% but noted inflation had picked up and was likely to rise further.

The pan-European STOXX 600 index was up 0.1% at 0710 GMT, after two days of gains.

The stock quoted a 52-week high price of Rs 354.55 and low of Rs 223.0.