HDFC twins hog limelight, settle in positive territory post-merger
Shares of HDFC twins were in the limelight on Monday and ended in the positive territory, the first day of trading after the merger, amid an overall bullish equity market trend.
The stock of HDFC climbed 1.76 per cent to settle at Rs 2,871.20 on the BSE. During the day, it jumped 3.70 per cent to its 52-week high of Rs 2,926.
Shares of HDFC Bank went up by 1.05 per cent to end at Rs 1,719.55. In intra-day trade, it advanced 3.29 per cent to Rs 1,757.80 -- its 52-week high.
The combined market valuation of HDFC and HDFC Bank stood at Rs 14,93,119.33 crore on the BSE.
Housing finance major HDFC merged with its subsidiary HDFC Bank on Saturday.
Rally in HDFC twins were significant in adding to the positive momentum in the equity market.
Rallying for the fourth straight session, the 30-share BSE Sensex jumped 486.49 points or 0.75 per cent to settle at its all-time closing high of 65,205.05. During the day, it rallied 581.79 points or 0.89 per cent to its lifetime intra-day high of .