HDFC Bank Allots 26.51L Shares Under ESOP Scheme: Stock Down

HDFC Bank has distributed 26,51,520 equity shares to its workers as a result of the execution of options under its Employees Stock Options Scheme (ESOS), according to a regulatory filing.

Shares of the HDFC Bank were seen trading at Rs 1,510, lower by 0.27% on NSE at 11.39 am IST. It touched an intraday low of Rs 1,505 during the trade.

As a result, the Bank's Paid-Up Share Capital will increase from Rs5,52,40,67,578 equity shares of Re.1/- each to Rs5,52,67,19,098 equity shares of Re.1/- each.

Employee stock option schemes or plans give employees a stake in the company's success. Employee stock ownership plans must be granted in accordance with established rules by employers. Employees are given these in exchange for purchasing a set number of firm shares at a set price after the option period or a set number of years.

The bank recently stated that HDFC Bank and its subsidiary HDFC Securities will purchase a stake in Borderless Softtech, a backend software infrastructure development company, for Rs. 6.9 crore.

HDFC Bank's paid-up share capital will grow from 548,32,86,460 equity shares of Re 1 each to 548,39,43,660 equity shares of Re 1 each, up from 548,32,86,460 equity shares of Re 1 each last year.

For the quarter ending March 31, 2021, HDFC Bank's net profit increased by 18.1 percent to Rs 8,186.51 crore. In the previous fiscal year, the bank made a net profit of Rs 6,927.69 crore.

In the third quarter, Net Interest Income (NII) increased by 12.6 percent to Rs 17,120 crore. In the quarter ended March 31, 2020, it was Rs 15,204 crore.

HDFC Bank company details

• Price: 1,510.60
• Market Cap: 8.35LCr
• P/E ratio: 26.22
• Div yield
• 0.43%
• YTD: 6%

HDFC, India's largest private sector bank, has purchased a 7.4 percent investment in Virtuoso Infotech through its subsidiary HDFC Securities Limited.