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HDFC Bank splits shares in 1:5 ratio
At the 17th Annual General Meeting held on July 6, 2011, HDFC Bank announced the
sub-division of stocks in the ratio of 1:5 in order to encourage wider retail participation in
the company. The bank's shareholders have approved the stock split in the company's
share in a 1:5 ratio i.e., one share of `10 will be split into five shares of `2 each. HDFC
Bank’s fundamentals and earnings outlook remain strong but at 3.4x FY2013E ABV, we
believe the stock is fairly valued. Hence, we remain Neutral on the stock.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
HDFC Bank splits shares in 1:5 ratio
At the 17th Annual General Meeting held on July 6, 2011, HDFC Bank announced the
sub-division of stocks in the ratio of 1:5 in order to encourage wider retail participation in
the company. The bank's shareholders have approved the stock split in the company's
share in a 1:5 ratio i.e., one share of `10 will be split into five shares of `2 each. HDFC
Bank’s fundamentals and earnings outlook remain strong but at 3.4x FY2013E ABV, we
believe the stock is fairly valued. Hence, we remain Neutral on the stock.
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