HDFC Bank rises on inking MoU with Institute of Economic Growth
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HDFC Bank is currently trading at Rs. 1504.90, up by 7.85 points or 0.52% from its previous closing of Rs. 1497.05 on the BSE.
The scrip opened at Rs. 1497.50 and has touched a high and low of Rs. 1507.95 and Rs. 1497.05 respectively. So far 59040 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1724.30 on 18-Oct-2021 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. 1507.95 and Rs. 1470.00 respectively. The current market cap of the company is Rs. 836442.32 crore.
The promoters holding in the company stood at 25.73%, while Institutions and Non-Institutions held 59.58% and 14.69% respectively.
HDFC Bank has signed a Memorandum of Understanding (MoU) with the Institute of Economic Growth (IEG), to fund a Chair to carry out independent research. It would be known as ‘HDFC Bank Chair of Banking and Finance’ and would be housed at IEG campus, New Delhi. The Bank will support IEG for this Chair over five years with a funding support of Rs 6.75 crore, with effect from September 1, 2022.
IEG is widely recognized as a Centre of Excellence, and one of India's leading think tanks in the fields of economic and social development. IEG specializes in long-term research that encourages the faculty to develop deep expertise in an area. “HDFC Bank Chair” will carry out research in crucial and emerging aspects on banking and finance and hold periodic seminars for exchanging its findings and insights.
It will benefit the Banking and financial services industry and regulators, as also build a body of knowledge in this vital area. Latest trends in Regulation, financing of Agriculture and MSME sectors, innovation in Capital Markets and economic drivers of financial inclusion and digital transformation within financial services are some of the areas of emphasis for this centre.
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.
