Latest News | HDFC Twins Continue to Decline for 2nd Day on Profit-taking

New Delhi, Apr 6 (PTI) Shares of HDFC twins fell for the second straight session on Wednesday and settled over 3 per cent lower amid profit-taking, dragging the BSE benchmark significantly lower.

The stock of HDFC Bank tanked 3.51 per cent to finish at Rs 1,550.80 on BSE. During the day, it tumbled 3.65 per cent to Rs 1,548.45.

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Shares of mortgage lender HDFC declined 3.26 per cent to settle at Rs 2,536.50 apiece. During the day, it dipped 3.50 per cent to Rs 2,530.

The 30-share BSE barometer tanked 566.09 points or 0.94 per cent to finish at 59,610.41.

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Stocks of HDFC twins had settled nearly 3 per cent lower on Tuesday.

On Monday, shares of HDFC and HDFC Bank had witnessed heavy buying and settled with nearly 10 per cent gains post announcement of their proposed merger.

In the biggest merger in corporate history, India's largest housing finance company HDFC will merge with the country's largest private lender HDFC Bank to create a banking behemoth.

Once the deal is effective, HDFC Bank will be wholly owned by public shareholders, and existing shareholders of HDFC will own 41 per cent of the bank, according to stock exchange filings by the firms on Monday.

(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)