New Delhi: The coronavirus was stirred by the news of the purchase of a stake in HDFC by the People’s Bank of China, the Central Bank of China, amid the lockdown. At that time, the government had also tightened FDI rules. Due to the same strict measures, the People’s Bank of China, the Central Bank of China, has reduced its stake in HDFC, India’s largest private sector housing finance company. In April, the People’s Bank of China bought a 1.01 percent stake in HDFC with an investment of Rs 3,300 crore.
According to news agency PTI, in the information given by HDFC to the stock market exchanges, it has been told that the Central Bank of China has sold at least some of its stake in HDFC. Information given to the exchange has been told that by the end of June, the Chinese Central Bank has reduced the 1% stake. PBOC has sold its shares in the open market. The Hindu Business Line newspaper, citing market sources, said a few days ago that the decline in HDFC stock is due to this. Let us tell you that HDFC stock fell 40 percent from its record level to its April low, but now some recovery has come.
