HDFC Shares Gained In Trade On March 14, 2022: Check Why

HDFC stock price in trade today (March 14, 2022) has moved higher by up to 1 percent to day's high of Rs. 2253. Meanwhile the Bank Nifty spurted by a sharp over 1%.

This is after the company in an exchange filing dated March 12, 2022 announced that its wholly owned subsidiary HDFC Capital Advisors has concluded the sale of 1,805 equity shares of Xpedize Ventures, representing 12.47% of its paid up capital, to US based SIC for $980,806.

Earlier the company informed that HDFC Capital Advisors Limited (HCAL), a wholly_owned subsidiary of the Corporation, acquired 1,623 equity shares by way of conversion of Compulsorily Convertible Preference Shares and together with 182 equity shares already held byit in Xpedize, HCAL held 12.47% of the equity share capital ofXpedize.

The company also informed that HCAL is in discussions for sale of the shares held by it in Xpedize(including those acquired by way of conversion ofCCPS), which is expected to be completed by March 31, 2022.

Meanwhile, the markets are trading firm with Nifty up.

Notably, amid the geopolitical tensions, HDFC Group stocks have seen sharp sell off and is trading at a discount of over 26% from it's all time high price of Rs. 3021.1 per share on the NSE. Last the stock traded at a price of Rs. 2229.9 per share on the NSE.

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