FIIs dump 48 crore HDFC Bank shares as stock crashes 26% in March quarter
Why it matters: FIIs offloaded 48 crore HDFC Bank shares, causing a 26% stock crash for the bank.
- FIIs offloaded nearly 50 crore HDFC Bank shares in Q4.
- HDFC Bank stock slumped 26% in the March quarter.
- A governance crisis, triggered by the exit of former chairman Atanu Chakraborty, contributed to the stock's decline.
- Sebi and the Reserve Bank of India are reviewing the issue.
- Jefferies argues that HDFC Bank's valuations now look compelling despite the recent turmoil.
Foreign Institutional Investors (FIIs) dumped nearly 50 crore HDFC Bank shares in Q4, causing the stock to crash 26% due to a governance crisis following the former chairman's exit. While regulators like Sebi and RBI are reviewing the situation, Jefferies now sees compelling valuations for the beleaguered bank.
