UBS Group picks up stake worth ₹543 Crore in HDFC Bank

26 Sep 2024 , 09:42 AM

On September 25, UBS Group purchased HDFC Bank shares for around ₹543 Crore in an open market transaction.

According to BSE block deal data, UBS Group’s unit, UBS Principal Capital Asia, bought 30.72 lakh shares of Mumbai-based HDFC Bank.

The shares were purchased at an average price of ₹1,768.05 per, totalling ₹543.27 Crore. BNP Paribas, based in Paris, offloaded these shares at the same price through its affiliate BNP Paribas Financial Markets. 

HDFC Bank has changed its Marginal Cost of Lending Rate (MCLR) for September 7, 2024. The new MCLR rates now range from 9.10% to 9.45% per year.

The only change is that the 3-month MCLR has increased by 5 basis points, to 9.30% from 9.25%.

On July 20, HDFC Bank reported a 2% decrease in net profit to ₹16,175 Crore for the April-June quarter of fiscal 2024-25 (Q1FY25), compared to the previous quarter’s ₹16,511.9 Crore.

India’s top private lender saw a 2.6% sequential increase in net interest income (NII) to ₹29,837 Crore, up from ₹29,078 Crore in Q4 FY24. 

At around 9.38 AM, HDFC Bank was trading 0.33% lower at ₹1,773.30 per piece, against the previous close of ₹1,779.10 on NSE. The counter touched an intraday high and low of ₹1,783.30, and ₹1,769, respectively.

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