After the merger of HDFC and HDFC Bank, now the time has come to bid farewell to HDFC shares. These shares will be delisted from BSE and NSE on July 12. HDFC Bank will become the fourth largest bank in the world after the merger of HDFC group companies for $64 billion. Both the stock exchanges said in a note that HDFC shares will not be traded on the exchange from July 13. That is, July 12 will be the last chance for business.
With this merger, HDFC Bank will become a bigger bank than Morgan Stanley and HSBC. Henceforth HDFC Bank will be named after JP Morgan and Bank of America among the big banks. Merger has been done from 1st July and now HDFC’s delisting is awaited.
How many shares of HDFC Bank will HDFC shareholders get?
HDFC shareholders will now be given HDFC Bank shares and the record date has been set for July 13 to determine their eligibility. As per the terms of merger, the shareholders will get 42 shares of HDFC Bank against 25 shares of HDFC Bank.
The existing F&O contracts for July 2023, August 2023 and September expiry will expire on July 12, 2023 and will be physically settled, NSE said in a circular. HDFC was till now included in Nifty 50 companies and now IT company LTI Mindtree will replace it. The merger of HDFC and HDFC Bank was announced in April 2022, creating the world’s fourth largest financial institution by market capitalisation. After the merger, the market capitalization of the combined company will reach $172 billion. Currently, Bank of America has a market cap of $228 billion and JPMorgan Chase has a market cap of $417 billion.
After rising for five consecutive days, today HDFC stock fell three per cent and closed at Rs 2,796. This stock has been an underperformer in 2023. In the current year, Sensex has gained 7 per cent while HDFC shares have gained 5.5 per cent.
Shares of HDFC Bank fell three per cent to close at 1676 today. The stock touched a 52 week low of Rs. reached at. 1337 while the fifty two week high was Rs. It is 1757, today this share reached 1720 at one time. HDFC Bank shares have gained 22 per cent in the last one year, while the stock has gained 5.16 per cent in the six-month period. From January 2023 till now, this share has increased by three per cent. This share has increased by 4.83 per cent in the last six months.