Money & Banking

HDFC denies merger buzz

Satyanarayan Iyer Mumbai | Updated on July 22, 2014

Housing Development Finance Corporation has denied any possibility of the company merging with its banking arm — HDFC Bank.

According to news reports on July 21, there is a "merger buzz" between the two entities.

"The media reports are incorrect and no such proposal has been considered by the board of directors of the corporation in the matter," HDFC said in a reply to the BSE.

At 2.25 p.m. local time, the Mumbai-based housing finance company's stock was trading at Rs 1.035, up 2.37 per cent on the BSE.

Published on July 22, 2014

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