HDFC Bank share price slips 3% after Aditya Puri sells stake
BusinessToday.In July 27, 2020
Share price of HDFC Bank share price fell over 3% in afternoon session today amid reports that Aditya Puri, Managing Director and Chief Executive Officer of the lender sold 95 per cent of his stake in the lender last week.
His stake was valued at Rs 843 crore this week. Puri sold 74.2 lakh shares of the bank between July 21 and 24, according to stock exchange filings. Subsequently, share price of HDFC Bank slipped 3.65% to Rs 1,077 against previous close of Rs 1,118 on BSE.
The stock lost 4.60% in the last 2 days. The share trades higher than 50 day and 100 day moving averages but lower than 5 day, 20 day and 200 day moving averages. The large cap share has fallen 5% in one year and lost 15% since the beginning of this year.
Total 6.02 lakh shares changed hands amounting to turnover of Rs 65.43 crore.
Market cap of the firm fell to Rs 5.92 lakh crore.
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At the end of March quarter, Puri held 0.14 per cent stake or 77.96 lakh equity shares. He now owns 3.76 lakh shares or 0.01 per cent stake in HDFC Bank.
Puri would retire from the bank in October. The 70-year-old banker who is credited for building HDFC Bank into the largest private bank by assets in the last 25 years saw a 38 per cent jump in salary and prerequisites to Rs 18.92 crore in FY 2019-20. He earned Rs 161.56 crore by exercising stock options during the year, the bank's annual report said.