HDFC Bank Ltd.

Foreign Investment Promotion Board (FIPB) is likely to take up HDFC Bank’s plan to hike overseas stake, on February 3, 2014. The bank is seeking nod for foreign holding at up to 67.55%. Of total of 67.55%, the Foreign Institutional Investor (FII) sub limit will be 49%, while balance 18.55% would be Foreign direct investment (FDI).

As on December 31, 2013, the promoters holding in the bank stood at 22.69%, while institutions and non-institutions held 44.20% and 16.12% stake in the bank, respectively.

The bank has reported 25.10% jump in its net profit at Rs 2325.70 crore for the quarter as compared to Rs 1859.07 crore for the same quarter in the previous year. Total income of the bank has increased by 17.75% at Rs 12738.95 crore for quarter under review as compared to Rs 10818.13 crore for the quarter ended December 31, 2012.