China's interest in HDFC, People's Bank of China bought 1.75 million shares

New Delhi, Apr 12, 2020, Sunday

China's interest in HDFC Limited, one of the largest banking groups in the private sector, is the subject of debate in the market nowadays.

China's central bank People's Bank of China purchased 1.75 million shares of HDFC in the March quarter. Thus, China's bank accounted for more than one percent of HDFC's total shares.

It is believed that these shares were purchased between January and March. HDFC stocks have declined over the past few weeks. Prices were up by 41 percent.

According to HDFC Bank sessions, China had 0.80 percent of HDFC shares as of March 2019. A new purchase by People's Bank has increased its stake by 0.20%.

While the stock market of Asia's largest economies has dropped drastically due to corona, China has adopted a policy of investing in it.