Chinese Bank buys 1.75 crore shares of HDFC

China: In a significant development, the People’s Bank of China has, reportedly, bought 1,74,92,909 crore shares or 1.01 percent of the shareholding of the Housing Development and Financial Corporation(HDFC) Ltd. of India, Stock Exchange data said. Recently, prices of the HDFC Ltd.’s shares have fallen probably due to the outbreak of COVID-19 in the country. On April 10, its shares closed at Rs 1,701.95. However, HDFC's Vice Chairman and CEO Keki Mistry informed media that the People’s Bank has been a shareholder of the HDFC and had owned 0.8 percent in the company till March, 2019. Mentionable is that the new Coronavirus has originated in China’s Wuhan and spread across the world in early parts of this year. Hence, many have suspected that China has created this deadly virus in a laboratory to wage a war against the world.

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