HDFC's stock skids over 1% post block deal

22 Feb 2022 , 10:21 AM

Shares of Housing Development Finance Corp (HDFC) Ltd. dipped over 2% in early morning trade as it witnessed a series of block deals on Tuesday. Under the block deal, around 71 lakh shares of the lender were traded. The total deal was worth Rs1,730 crore.

At around 10.14 AM, the scrip was trading at Rs2,398.20, down by Rs38.60 or 1.58% against its previous closing price of Rs2,436.80. It touched day’s high and low of Rs2,405 and Rs2,373.15 respectively so far in today’s trade.

HDFC Ltd. is trading in the lower circuit over the last few months, slowing down its performance despite the improvements in the overall markets, including the real estate sector.

Company’s December quarter performance left investors with mixed sentiments as its AUM managed to grew by 16%, whereas, net interest income growth was marginal due to a high base and high reserve requirement.