HDFC gains on entering into strategic alliance with India Post Payments Bank
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Housing Development Finance Corporation is currently trading at Rs. 2922.65, up by 11.10 points or 0.38% from its previous closing of Rs. 2911.55 on the BSE.
The scrip opened at Rs. 2915.00 and has touched a high and low of Rs. 2937.30 and Rs. 2913.95 respectively. So far 9446 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2937.75 on 22-Oct-2021 and a 52 week low of Rs. 1907.70 on 30-Oct-2020.
Last one week high and low of the scrip stood at Rs. 2937.75 and Rs. 2798.00 respectively. The current market cap of the company is Rs. 528078.64 crore.
The Institutions and Non-Institutions held 88.94% and 11.06%, stake in the company respectively.
Housing Development Finance Corporation (HDFC) and India Post Payments Bank (IPPB) have entered into a strategic alliance to offer home loans to nearly 4.7 crore customers of the payments bank.
Leveraging its country-wide network of 650 branches and over 1,36,000 banking access points (Post offices), IPPB aims to make HDFC's home loan products and its expertise available to its customers across India.
HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.
