Amid heavy selling, HDFC twins down 3%

Mumbai, April 5

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Just a day after the announcement of the biggest merger in the country’s corporate history, stocks of HDFC twins witnessed a heavy selling pressure and settled nearly 3% lower amid profit booking at higher valuations, and ended up as the top losers on both the benchmark indices on Tuesday.

Shares of mortgage lender HDFC ended the day at Rs 2,622.00 apiece, down 2.12% while the HDFC Bank settled the day at Rs 1,607.15, lower by 2.98%. On Monday, shares of HDFC and HDFC Bank had witnessed heavy buying and settled with nearly 10% gains.

At the end of Tuesday’s trading session, market capitalisation of HDFC stood at Rs 4,75,375.07 crore, down from Rs 4,85,691.18 crore on Monday. Similarly, market capitalisation of HDFC Bank slipped to Rs 8,91,251.62 crore, from Rs 9,18,591.13 crore on Monday. —