HDFC will hold a meeting of the Board of Directors of the Company on 13 May 2019.

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Housing Development Finance Corporation announced that the Reserve Bank of India vide its letter dated 14 March 2019 has granted its in-principle approval to the Corporation to acquire shareholding of 9.9% or less of the paid up voting equity capital of Bandhan upon the effective date of the scheme.

The scheme envisages the amalgamation of GRUH Finance (a subsidairy of the Corporation) into and with Bandhan and dissolution of GRUH without winding up.

The scheme remains subject to various regulatory and statutory approvals.

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Housing Development Finance Corporation Ltd is up for a fifth straight session today. The stock is quoting at Rs 1955, up 0.22% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 0.04% on the day, quoting at 11337.15. The Sensex is at 37764.27, up 0.03%. Housing Development Finance Corporation Ltd has gained around 4.27% in last one month.

Meanwhile, Nifty Financial Services index of which Housing Development Finance Corporation Ltd is a constituent, has gained around 7.22% in last one month and is currently quoting at 12034.15, down 0.09% on the day. The volume in the stock stood at 22.01 lakh shares today, compared to the daily average of 28.45 lakh shares in last one month.

The benchmark March futures contract for the stock is quoting at Rs 1960.05, up 0.36% on the day. Housing Development Finance Corporation Ltd is up 6.83% in last one year as compared to a 9.43% jump in NIFTY and a 15.91% jump in the Nifty Financial Services index.

The PE of the stock is 34.93 based on TTM earnings ending December 18.

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Housing Development Finance Corporation has allotted 3,40,650 equity shares on 11 March 2019 pursuant to exercise of stock options by certain employees of the Corporation.

Post the above allotment, the paid up share capital of the Corporation is Rs 344.12 crore consisting of 172,06,43,426 equity shares of Rs 2 each.

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