HDFC Bank’s shares surge as FPI ownership hits a record

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HDFC Bank’s share price went up by 0.05 per cent after the company reported that foreign portfolio investors (FPIs) had increased their shareholding in HDFC Bank, reaching a record high of 54 per cent by the end of the June 2023 quarter. 

The latest data indicates a surge, compared to the 32 per cent shareholding recorded in the corresponding quarter of the previous fiscal year. “So, with its relative valuation (compared to other global banks) and growth opportunities in India, HDFC Bank is naturally the top choice for FPIs,” said Kranthi Bathini, Director – Equity Strategy, at WealthMills Securities

The shares went up by 0.05 per cent to Rs 1,645 at 09:53 a.m. on BSE.