Latest News | HDFC Bank Shares End in Positive Territory

New Delhi, Jul 13 (PTI) Shares of HDFC Bank ended in the positive territory on Thursday, the first day of trade as a merged entity with HDFC.

JSW Steel Ltd replaced Housing Development Finance Corporation (HDFC) in the 30-share BSE Sensex from Thursday.

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The replacement came in the wake of HDFC getting merged with HDFC Bank.

Shares of HDFC Bank climbed 0.51 per cent to settle at Rs 1,641.30 apiece on the BSE. During the day, it advanced 1.45 per cent to Rs 1,656.80.

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On the NSE, the stock ended at Rs 1,641.10 per piece, up 0.49 per cent.

JSW Steel fell 0.26 per cent to Rs 802.25 per share on the BSE on its first day of trade as a Sensex firm.

HDFC Bank is the country's third most valued firm in terms of market valuation. It commanded a market valuation of Rs 9,17,781.94 crore on the BSE.

Reliance Industries is the most valued domestic firm with a market capitalisation of Rs 18,55,909.12 crore, followed by Tata Consultancy Services with a valuation of Rs 12,22,361 crore.

LTIMindtree Ltd replaced Housing Development Finance Corporation Ltd in the Nifty-50 index from Thursday.

Shares of LTIMindtree climbed 1.60 per cent to Rs 4,893.30 each on the NSE.

HDFC, the parent of HDFC Bank, merged into the lender on July 1.

The record date is July 13 for determining the shareholders of HDFC, who shall be issued and allotted the shares of HDFC Bank.

HDFC stock's journey ended on Wednesday following a reverse merger with HDFC Bank.

The USD 40 billion merger, the largest such deal in Indian corporate history, was driven by a changing regulatory landscape, which limited the advantages for HDFC continuing as a non-bank lending entity.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)