India’s largest private bank, HDFC Bank, has announced that it will give bonus shares to its investors.
The record date for this bonus issue has been fixed as 27 August, which means investors whose names appear in the bank’s records on that day will be eligible.
The bank has declared a 1:1 bonus, meaning investors will get one free share for every one share they hold.
Earlier, in the previous month, HDFC Bank shares traded ex-dividend when the company gave a special dividend of ₹5 per share to eligible investors.
Should You Invest in HDFC Bank Shares?
According to Ganesh Dongre, Senior Manager (Technical Research) at Anand Rathi, HDFC Bank shares have shown strong upward movement after crossing the key level of ₹1850.
In the short term, the stock may rise to ₹2050–₹2100. However, he advises investors to maintain a stop loss at ₹1850 while trading.
Performance of HDFC Bank Shares
At the close of market on Friday, HDFC Bank shares were priced at ₹1964.75, down by 1.28% on the BSE.
In the last one year, the stock has gained over 20%.
The company’s 52-week high is ₹2036.30, and the 52-week low is ₹1613.40.
HDFC Bank’s market capitalization currently stands at ₹15,08,346.39 crore.
