HDFC Bank Shares Rise, Top Gainer On Sensex And Nifty As Board Mulls Bonus Issue, Special Dividend
The HDFC Bank stock gained as much as 1.4% to Rs 2,022.7, before cooling off.
HDFC Bank Ltd. shares rose during early trade on Wednesday after the board said it will consider its first-ever bonus issue and a special dividend in a meeting later this week.
The stock gained as much as 1.4% to Rs 2,022.7 before cooling off. The scrip was up 0.6% as of 9.25 a.m., compared to a 0.22% decline in the benchmark Nifty 50.
It was the top contributor in the index in terms of points.
The board will meet on Saturday, July 19. India's largest private lender will also announce the results for the first quarter of the financial year ending March 2026 on that day.
The bank paid a final dividend of Rs 22 for fiscal 2025 last month.
The last time it paid a special dividend was in 2019, rewarding shareholders with Rs 5 per share.
HDFC Bank has a dividend yield of 1.1% and trades at 21.7 times price-to-earnings.
Foreign institutions own a 48.84% stake in the private lender, and over 36 lakh retail investors holding nominal share capital up to Rs 2 lakh have a combined equity stake of 10.3% as of June, according to BSE shareholding data.
