There was a lot of excitement among the investors as soon as the news of the merger of HDFC Bank and HDFC Ltd came. Its effect was also visible on the stock market that day. But this enthusiasm remained only for one day, while the decline in its shares started the very next day, it continues. Talking about the latest situation, investors have suffered a loss of Rs 2.6 lakh crore in just nine days.
Big drop in market capitalization
According to a report, the shares of HDFC have lost nine to ten percent in this period. HDFC Bank\'s market capitalization as of April 4, 2022, was Rs 9,18,591 crore and in these nine days, it declined by Rs 1.67 lakh crore to Rs 7,51,421 crore on Tuesday. Apart from this, the market capitalization of HDFC Ltd as of April 4 was Rs 4,85,692 crore, which declined to Rs 3,94,097 crore. Accordingly, there has been a loss of Rs 91,595 crore in its value.
Losses as much as Bajaj Finserv\'s value
According to the report, after the announcement of the merger of the two companies, the market capitalization which started decreasing is proving to be very bad for those investing in them. Looking at the loss figures, the amount of money that investors have lost in these nine days is equal to the total market value of Bajaj Finserv. Looking at Tuesday\'s figures, Bajaj Finserv has a market cap of Rs 2.52 lakh crore.
Downtrend continues on Tuesday
Shares of HDFC Bank were trading down more than two percent at Rs 1,362 on the BSE during opening trade for the ninth consecutive session on Tuesday, with the bank\'s stock falling nearly nine percent in the benchmark in the previous trading sessions. Like HDFC Bank, the shares of HDFC Limited are also trading with a steady decline. Its stock was trading at Rs 2161 till the time of writing the news.
The merger process will be completed in 18 months
Significantly, the merger of HDFC Limited and HDFC Bank was announced in the past. Immediately after the news of this merger, the company\'s shares had jumped up to ten percent. According to the report, some regulatory approvals are yet to be received, after which the deal will be completed in the next 18 months and after that, a new company will be formed. Which will be the world\'s largest lender.
Former Australian captain Ricky Ponting is counted among the legend batsmen of the world, in his
If you are a fan of 'Harry Potter' series then you must remember 'Professor Severus Snape'. Holly
These days, Bollywood actor Vikrant Massey is enjoying the success of his film '12th Fail'. The a
Prime Minister Narendra Modi's birthday is today i.e. on 17 September. He has turned 74 years old
The question remains as to who will be the CM face in Mahayuti and Maha Vikas Aghadi in Maharasht
Eggs are thrown at King Charles III of Britain in Yorkshire. The police have arrested a 23-year-o
Pakistan's Seema Haider, who fell in love with India's Sachin Meena while playing PUBG, is now em
Haris Rauf criticized the critics after losing the second T20 match to New Zealand. Pakistani fan
Gullak 3 Review: Gullak is a story of happiness and sadness and love with family, watch with family
Web Series: Gullak 3
Director: Palash Vaswani
Major Cast: Jameel Khan, Harsh Mayr
Congress leader Rahul Gandhi has termed the new draft guidelines of the University Grants Commiss
