People’s Bank of China buys 1.75 crore shares in HDFC during March quarter; owns 1% in company

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People’s Bank of China buys 1.75 crore shares in HDFC during March quarter; owns 1% in company
People’s Bank of China picked up 1.75 crore shares or a 1.01 percent stake in home finance major Housing Development Corporation Limited during the period between January-March 2020. The figure is reflected in the latest quarterly shareholding pattern of the company disclosed to the stock exchanges.

While it is not clear when People’s Bank of China bought the shares, it is likely that the purchases may have been made in March when the stock prices across the board were plunging in the wake of the rout in global financial markets.

Between the first week of February and the last week of March, HDFC’s share price plunged 41 percent from a 52-week high of Rs 2500 to a 52-week low of Rs 1473. Its last traded price was Rs 1701.25.

Source : By CNBC TV 18