HDFC Bank ADR rises 7% after Q4 updates lifts sentiments despite reduction in FII shareholding
HDFC Bank dropped to 47.83 per cent in March 2024 quarter from 52.39 per cent in the December quarter. An American Depositary Receipt or ADR is like a special certificate issued by a US bank, and it represents the shares of a foreign company.
These ADRs can be traded on US stock markets, just like regular shares of US companies. On Thursday, shares of HDFC Bank opened at ₹1505 and rose around two per cent to hit an intra day high of ₹1529.85 against a 52-week high of ₹1,757.80 apiece on the BSE.
Shares settled 3.06 per cent higher at ₹1,527.90 apiece on the BSE. In the past six months, HDFC Bank shares have given 6.25 per cent returns to investors and 5.5 per cent in the last one week alone.Milestone Alert!
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