In a noteworthy block deal executed on Tuesday, 21.7 lakh shares of HDFC Bank were sold, ET Now reported. This pushed the bank’s market capitalisation above Rs 14 lakh crore during morning trade, with shares climbing as much as 2% to Rs 1,837 on the BSE.
While the identities of buyers and sellers involved in the transaction remain undisclosed, the deal’s value is estimated at Rs 392 crore, based on the company’s closing price of Rs 1804.55 on the previous day.
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The deal highlights strong investor interest in HDFC Bank, which has seen a 14% gain in its share price over the past year. However, this growth has lagged the broader NSE Nifty 50, which rose 18% during the same period.
The bank’s market capitalisation last breached the Rs 14 lakh crore mark on November 28 during intraday trade, before the stock settled below Rs 1,800.
This came on the heels of a remarkable rally on November 25, when the stock jumped above Rs 1,800 to hit a new all-time high. That surge was fueled by extraordinary trading volumes linked to MSCI’s November rebalancing, which increased the bank’s index weightage and attracted an estimated $1.88 billion in passive inflows.
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