HDFC Bank back in ‘red flag’ list

Private sector lender HDFC Bank’s stock has been once again put in the ‘red flag' list, following an increase in shareholding of overseas investors. Last week, the stock was removed from the list — maintained by the NSDL— after the aggregate foreign investment in the stock fell below 71 per cent. A red flag gets activated whenever the foreign shareholding is less than 3 per cent of the permissible limit, which in HDFC Bank’s case is 74 per cent. As per NSDL’S website, the available headroom for FPI investment as on September 8 in HDFC Bank was 165.9 million shares. Over the past one month, shares of HDFC Bank are up 4 per cent, while the Sensex has gained 7 per cent.