HDFC Bank Shareholder Divests Stake For Rs 166.96 Crore

A shareholder of HDFC Bank Ltd. sold a 0.01% stake in the company on Monday for Rs 166.96 crore through an open market transaction.

Copthall Mauritius Investment Ltd. offloaded 10.2 lakh shares at Rs 1,636.9 each, according to data on the NSE.

Bureau of Labor Funds-Labor Pension Fund, Hospital Authority Provident Fund Scheme, and State Street ICAV-SS Emerging Markets ESG Screened Index Equity Fund were among the buyers.

Shares of HDFC Bank closed 0.67% lower at Rs 1,626.95 apiece, compared to a 0.17% rise in the benchmark NSE Nifty. The stock has risen 2.68% in the last 12 months and fell 4.81% year-to-date. The relative strength index was 48.71.

Out of 47 analysts tracking the company, 38 maintain a "buy" and nine suggest a "hold," according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 15.5%.