PBOC sells stake in HDFC in Q1; shares down
China’s central bank, People's Bank of China (PBoC), offloaded some or entire stake in the country’s largest mortgage lender HDFC during the April-June quarter, showed the latest shareholding data.
According to the latest data disclosed by the lender to the stock exchanges, the People’s Bank of China was not among key shareholders of the company as of June 30.
However, it held 1.01 per cent stake or 1,74,92,909 shares as on March 31.
As a result, the holding of foreign portfolio investors declined to 70.17 per cent in the last quarter against 70.88 in the preceding quarter ended March 31.
Shareholding of mutual funds also inched lower to 9.44 per cent from 9.52 per cent earlier, data available with BSE showed on Wednesday.
Shares of HDFC traded 1.33 per cent down at Rs 1,916.15 at around 9.46 am (IST), while the benchmark BSE Sensex traded 0.13 per cent lower at 36,689 at around the same time.
HDFC in May posted a 21.97 per cent year-on-year (YoY) fall in net profit at Rs 2,233 crore for the March quarter. The company had reported a profit of Rs 2,862 crore in the corresponding quarter of last year.
Profit fell as dividend income received during the quarter was mere Rs 2 crore compared with Rs 537 crore in the same quarter last year.