HDFC Bank receives RBI approval for Preferential Issue

HDFC Bank Ltd has received the approval from the Reserve Bank of India vide its letter dated March 24, 2008 for the proposed issue of 2,62,00,220 convertible warrants to the promoters on preferential basis.

The stock was trading at Rs.1417.90, up by Rs.80.45 or 6.02%. The stock hit an intraday high of Rs.1434 and low of Rs.1365.

The total traded quantity was 140758 compared to 2 week average of 95726.

Source : Equity Bulls

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