HDFC Bank Ltd.

BSE: 500180 | NSE: HDFCBANK
Large Cap | Bank - Private
931.15
5.15 (0.56%)
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HDFC Bank trades higher on the BSE

Date: 10-01-2013

HDFC Bank is currently trading at Rs. 672.20, up by 5.45 points or 0.82% from its previous closing of Rs. 666.75 on the BSE.

The scrip opened at Rs. 667.50 and has touched a high and low of Rs. 676.75 and Rs. 666.35 respectively. So far 42598 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 705.00 on 30-Nov-2012 and a 52 week low of Rs. 455.15 on 11-Jan-2012.

Last one week high and low of the scrip stood at Rs. 690.00 and Rs. 665.00 respectively. The current market cap of the company is Rs. 159216.88 crore.

The promoters holding in the company stood at 22.94% while Institutions and Non-Institutions held 42.60% and 17.30% respectively.

In one of the largest outright office space deals, HDFC Bank is close to buying nearly 1.3 lakh square feet of commercial space spread over four floors in Peninsula Business Park at Lower Parel in central Mumbai. The bank is paying around Rs 17,000 per square foot totaling nearly Rs 220 crore for acquiring the office space in Peninsula Business Park’s 20-storey tower-B owned by Alok Realtors, the real estate arm of Alok Industries. HDFC Bank is expected to pay the nearly Rs 220 crore in two installments. The bank will use the office space to expand its operations and will also shift some of its current operations from other offices. Along with the commercial space, that can accommodate over 1,500 employees, it will also get parking slots for nearly 150 cars under this deal.

The deal is part of Alok Industries’ larger plan to exit the real estate business. The company, through its realty arm Alok Realtors, had acquired this commercial building, part of the complex Peninsula Business Park, from developer Peninsula Land for Rs 1,075 crore in 2007. Eighty per cent of the building’s total space of 641,000 sq ft is marked out for use by information technology (IT) and IT-enabled services (ITeS), while the rest is meant for commercial use. HDFC Bank is buying the space that has been marked for IT and ITeS operations.