Today is the last day for trading in HDFC shares.

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New Delhi: Today is the last day of trading for HDFC shares. With this, its 45-year journey on Dalal Street will end. The company launched its IPO in 1978 with a face value of Rs 100. Investors did not give much value to this IPO. It was not fully subscribed and was listed below the issue price. But today HDFC is among the top 10 valuable companies in the country. In 1992, the share price was just Rs 7, but it has grown manifold in three decades. It is currently trading around Rs 2,742 on BSE. At the beginning of this month, the company’s stock had reached an all-time high of Rs 2926 and the company’s market cap had also crossed Rs 5 lakh crore. This stock has been one of the favorite stocks of the investors for a long time.

HDFC expanded its business extensively by venturing out of the retail home loan segment. The company was founded by HT Parikh and his nephew Deepak Parikh. In the year 1995, the company entered the banking sector with HDFC Bank. Today it is included in the top five banks of the country. It has 7,280 branches across the country. HDFC’s IPO may have received a lukewarm response, but in 1995, HDFC Bank’s issue was lapped up by investors. It was subscribed 53 times. Its price in 1995 was Rs 4, which has reached Rs 1648.3 today. JPMorgan estimates that its price could reach Rs 2,000 in the short term.

HDFC-HDFC Bank Merger: HDFC Bank shares surged after merger, stock reached 52-week high

Nifty’s new Bahubali

Now HDFC is merged with HDFC Bank. With this, HDFC Bank has become the fourth largest bank in the world by market cap. The $40 billion merger became effective from July 1. The company has fixed July 13 as the record date. That is, today is the last day of trading of HDFC shares. With the reverse merger of HDFC Bank and HDFC Bank, HDFC Bank has become the new Bahubali of Nifty. The bank’s weightage in the index has exceeded that of Mukesh Ambani’s Reliance Industries. Trading in HDFC shares will cease on the stock exchange on July 13. After the merger, the weightage of HDFC Bank will increase to 14.43%. At present, the weightage of Reliance on Nifty is 10.9%, which will come down to 10.8%.

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