HDFC Bank share price: Did the stock really fall 62% today? Here’s what happened
HDFC Bank, India’s largest private sector lender by market value, experienced a technical price adjustment on Tuesday as its shares commenced trading ex-bonus on the NSE and BSE, following the implementation of its 1:1 bonus share distribution.The bank’s decision to issue one additional equity share for every existing share was intended to enhance trading liquidity and increase participation from retail investors.Following the adjustment to account for the increased share count, HDFC Bank’s shares opened 62 per cent below their previous closing value, trading between Rs 982.20-986.30. This reduction reflects the mathematical impact of the bonus ratio, not a decrease in the bank’s fundamental worth, reported Economic Times.It is…
