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HDFC share gains 1.5% on launch of Rs 14,000-crore QIP

Share price of HDFC rose 1.5% to Rs 1,804 against previous close of Rs 1,776 on BSE

twitter-logoBusinessToday.In | August 6, 2020 | Updated 13:22 IST
HDFC share gains 1.5% on launch of Rs 14,000-crore QIP
HDFC stock trades higher than 100 day moving averages but lower than 5 day, 20 day, 50 day and 200 day moving averages

HDFC share price gained in early trade today after the mortgage lender launched a qualified institutional placement (QIP) issue on Wednesday. HDFC has set the floor price at Rs 1,838.94 per share for QIP. Share price of HDFC rose 1.5% to Rs 1,804 against previous close of Rs 1,776 on BSE.

Total 1.03 lakh shares changed hands amounting to turnover of Rs 19.47 crore. Market cap of the firm stood at Rs 3.09 lakh crore. The stock has been remained flat for last 2 days. It trades higher than 100 day moving averages but lower than 5 day, 20 day, 50 day and 200 day moving averages.

The large cap share has lost 18.48% one year and fallen 26.04% since the beginning of this year. On July 30, the board of directors of HDFC had approved raising funds by way of issuance of equity shares and secured redeemable non-convertible debentures simultaneously with warrants aggregating up to a cumulative amount of Rs 14,000 crore on a QIP basis.

Sensex rises 500 points, Nifty at 11,230; HDFC twins, Bajaj Auto top performers

The firm may offer a discount of not more than 5 per cent of the said floor price.

Meanwhile, market indices gained today, backed by index heavyweights HDFC twins, in line with bullish global equities. After RBI kept policy rates, Sensex rose 540 points higher to 38,203 and Nifty rose 148 points higher to 11,250.

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