Financial Daily from THE HINDU group of publications
Tuesday, Nov 08, 2005
Financial Daily from THE HINDU group of publications Tuesday, Nov 08, 2005 |
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Markets
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Stock Markets Money & Banking - Stocks Block deals in HDFC Bank Our Bureau
Kolkata , Nov. 7 SOME 4.04-per cent stake in HDFC Bank changed hands today in a number of block deals, executed on the BSE and NSE. Merrill Lynch Capital Markets Espana S.A.S.V. sold little over 45.62 lakh shares of HDFC Bank to Crown Capital Ltd in a block deal on the NSE at a price of Rs 629.50 a share. In another deal on the BSE, Merrill Lynch Capital Markets Espana S.A.S.V. sold 90 lakh shares at Rs 626.50 each to Crown Capital. Merrill Lynch Capital Markets Espana S.A.S.V. as on September 30, 2005 held around 1.44 crore shares of HDFC Bank, representing 4.60 per cent of the paid-up equity of the bank. Crown Capital also bought 17.17 lakh shares of HDFC Bank today through a separate bulk deal on the BSE from CLSA Mauritius at Rs 633 a share. According to market sources, CLSA Mauritius may have sold it on behalf of its clients. On the back of the deals, the HDFC Bank counter had a huge volume surge and smart upward price movement. It opened higher at Rs 622 against the previous closing price of 620.15, shot up to Rs 635, but closed at Rs 624.65 on the BSE, with a gain 0.73 per cent. The traded quantity of the stock on the BSE was 1.08 crore shares against the fortnight's average on the exchange of 14.22 lakh shares. The promoters - HDFC Ltd and HDFC Investments Ltd - jointly hold 22.08 per cent in HDFC Bank. Apart from Merrill Lynch Espana S.A.S.V., the prominent FII investors, who held more than one per cent in the stock, are Small Cap World Fund Inc (2.40 per cent), Deutsche Securities Mauritius (3.58 per cent), New Economy Fund (1.99 per cent) and Indocean Financial Holding (1.28 per cent). Bennett & Coleman Group held 5.19 per cent stake in the bank and the public holding was placed at 12.31 per cent as on September 30, 2005.
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