LIC's proposed stake buyout in HDFC Bank 'well-timed', has limited downs.
Mon, Jan 29, 2024 6:11 PM

LIC's proposed stake buyout in HDFC Bank 'well-timed', has limited downs.

A Flip by Avya Verma
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HDFC Bank shares gained 2% to Rs 1,462 per share after RBI allowed LIC to increase its stake by another 4.8%, making them the second largest shareholder at 9.99%. This is expected to have a positive impact on the stock and experts predict a recovery of 15% in the next year. The bank is also focusing on rural and semi-urban areas for growth and LIC's gradual buyout over the next year is seen.

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