HDFC completes sale of up to 0.95 % stake in HDFC Standard Life Insurance Company Limited

Housing Development Finance Corporation Ltd has concluded the sale of balance 69,82,361 equity shares of HDFC Life and consequently, the Corporation holds 71.42% of the total issued and paid-up equity capital of HDFC Life.

The company had earlier announced to sell up to 1,89,51,361 equity shares of Rs. 10/- each of HDFC Standard Life Insurance Company Limited (HDFC Life) representing 0.95% of the total issued and paid-up equity capital of HDFC Life to the Azim Premji Trust at a price of Rs. 105 per share and the sale of 1,19,69,000 shares in first tranche on December 22, 2014.

Shares of HOUSING DEVELOPMENT FINANCE CORP.LTD. was last trading in BSE at Rs.1112.2 as compared to the previous close of Rs. 1123.6. The total number of shares traded during the day was 66242 in over 5471 trades.

The stock hit an intraday high of Rs. 1136.2 and intraday low of 1104. The net turnover during the day was Rs. 73990459.

Source : Equity Bulls

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