HDFC Bank Edges Marginally Lower After Acquiring 7.4% Stake In Virtuoso Infotech
Share price of HDFC Bank edged marginally lower on Tuesday, June 29, a day after the country's largest private bank and its subsidiary HDFC Securities Limited acquired a 7.4 per cent stake in Virtuoso Infotech. On Tuesday, HDFC Bank opened on the BSE at Rs 1,510, swinging to an intra day high of Rs 1,510 and touching an intra day low of Rs 1,492.50, in the trading session so far. According to news agency PTI, Virtuoso Infotech is an enterprise software solutions company and specializes in product engineering.
The company offers customized software solutions for enterprises across a wide range of sectors. Virtuoso Infotech Private Limited is founded by Ms. Preeti Nahar and Mr. Yogesh Satpute, who announced the news of the investment fundraise on Thursday, June 28.
“We are excited to start our growth journey with HDFC Bank and HDFC securities, serving the diversified needs of banking and securities business,'' said Ms. Preeti Nahar, CEO, Virtuoso Infotech.
The company also offers software solutions for sectors such as finance, hospitality, religious institutions, media, cloud computing, communities, and food & travel, by using data analytics and machine learning.
"We are looking forward to contribute and make a dent in digital universe with our joint capabilities. Bank has always been supporting companies that help them take digitization to the next level”, said Mr Yogesh Satpute, CTO, Virtuoso Infotech.
The bank's financial services intermediary- HDFC Securities Limited, headquartered in Mumbai, is one of the leading online trading platforms for stocks, IPOs, and mutual funds in the country.
On the NSE, HDFC Bank opened at Rs 1,507, registering an intra day high of Rs 1,508.20 and an intra day low of Rs 1,492.15, in the session so far. It was last trading flat at Rs 1,501.80 on the NSE.
Shares of HDFC Bank were last trading 0.47 per cent lower at Rs 1,501 on the BSE.
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