China Central Bank Ups Stake In HDFC To Over 1%, Shares Fall

HDFC has declined more than 1 per cent today after the People's Bank of China (PBOC) increased its stake in the mortgage lender. The shares in the Mumbai-based company rose as much as 3.5 per cent in early trade, but soon surrendered all their gains. At 11.40 am, the shares were quoting at Rs 1,677, lower by 25 points or 1.4 per cent, on the BSE. The shares touched an intra-day high of Rs 1,763 and a low of Rs 1,648 thus far.