HDFC Bank inches up on inking pact with Export Import Bank of Korea for $300 million credit line
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HDFC Bank is currently trading at Rs. 1686.30, up by 1.55 points or 0.09% from its previous closing of Rs. 1684.75 on the BSE.
The scrip opened at Rs. 1686.05 and has touched a high and low of Rs. 1691.30 and Rs. 1682.75 respectively. So far 32586 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1702.00 on 24-Jan-2023 and a 52 week low of Rs. 1271.75 on 17-Jun-2022.
Last one week high and low of the scrip stood at Rs. 1691.30 and Rs. 1651.90 respectively. The current market cap of the company is Rs. 942083.77 crore.
The promoters holding in the company stood at 25.60%, while Institutions and Non-Institutions held 60.39% and 14.00% respectively.
HDFC Bank has signed a Master Inter Bank Credit Agreement with Export Import Bank of Korea for a $300 million line of credit. This agreement will help HDFC Bank raise foreign currency funds which it would extend to Korea-related businesses.
This line of credit would be utilised by HDFC Bank towards funding requirements of companies having equity participation by Korean companies as well as companies having business relationship with Korean companies. It will also be utilised towards funding requirements of consumers for the purchase of cars manufactured by Korea related companies. The pact is likely to promote and increase the HDFC Bank's business with Korean entities and products.
HDFC Bank is one of India’s premier banks providing a wide range of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.
