People’s Bank of China trims stake in HDFC to less than 1%


Source: moneycontrol.com moneycontrol.com

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People's Bank of China (PBOC) has sold a part of its stake in Housing Development Finance Corporation (HDFC), lowering its holding to less than 1 percent. China's central bank was not listed in HDFC's shareholding disclosure for the June quarter, which identifies shareholders owning more than 1 percent of the company. PBOC had raised its holding in the housing financier to slightly over 1 percent during the quarter that ended on March 31, 2020. The Indian government was reportedly not pleased with the fact that PBOC was able to raise its stake in HDFC without setting off any alarm bells....