HDFC Asset Management Company, providing various mutual fund and portfolio management services, has received approvals from the Reserve Bank of India (RBI) to acquire a stake in the below listed private-sector Banks. 

DCB Bank Limited 

With a market capitalization of Rs 3,928.62 crores, the stocks of DCB Bank Limited started their trading session on Thursday at Rs 125.35 and currently trade at Rs 125.95, gaining around 1.50 percent as compared to the previous closing levels of Rs 124.05 apiece. 

The company, via a regulatory filing with the Bombay Stock Exchange (BSE), announced that the RBI has given its approval to HDFC AMC limited’ to acquire an aggregate holding of up to 9.5 percent in DCB Bank Limited. 

Moreover, the RBI has advised the AMC to acquire the major shareholding in the Bank within a period of one year from the date of approval. 

Equitas Small Finance Bank Limited 

With a market capitalization of Rs 9,566.39 crores, the stocks of Equitas Small Finance Bank Limited started their trading session on Thursday at Rs 84 and currently trade at Rs 85.44, gaining around 1.80 percent as compared to the previous closing levels of Rs 83.92 apiece. 

The company, via a regulatory filing with the Bombay Stock Exchange (BSE), announced that the RBI has given its approval to HDFC AMC limited’ to acquire an aggregate holding of up to 9.5 percent in Equitas Small Finance Bank Limited. 

Karur Vysya Bank Limited 

With a market capitalization of Rs 10,865.87 crores, the stocks of Karur Vysya Bank Limited started their trading session on Thursday at Rs 134 and currently trade at Rs 135.80, gaining around 1.50 percent as compared to the previous closing levels of Rs 133.75 apiece. 

The company, via a regulatory filing with the Bombay Stock Exchange (BSE), announced that the RBI has given its approval to HDFC AMC limited’ to acquire an aggregate holding of up to 9.5 percent in Karur Vysya Bank Limited. 

Federal Bank Limited 

With a market capitalization of Rs 34,347.62 crores, the stocks of Federal Bank Limited started their trading session on Thursday at Rs 146.40 and currently trade at Rs 146.15, a flat movement as compared to the previous closing levels of Rs 146.40 apiece.

The company, via a regulatory filing with the Bombay Stock Exchange (BSE), announced that the RBI has given its approval to HDFC AMC limited’ to acquire an aggregate holding of up to 9.5 percent in Federal Bank Limited. 

Written by Amit Madnani

Disclaimer

The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.