|Bid||58.80 x 800|
|Ask||66.90 x 800|
|Day's range||64.08 - 64.83|
|52-week range||50.61 - 79.39|
|Beta (5Y monthly)||0.85|
|PE ratio (TTM)||24.66|
|Forward dividend & yield||0.58 (0.88%)|
|Ex-dividend date||11 May 2022|
|1y target est||N/A|
A lot has been happening in the financial sector of India with big-ticket M&As hogging the spotlight.
Today's one of those rare days when the stock of HDFC Bank (NYSE: HDB) made a big move, and rightfully so. HDFC Bank wants to merge with its parent, HDFC (which is listed in India), in an all-stock deal, after which HDFC will become a subsidiary of the bank. This is a potential merger between the largest private bank and the largest housing-finance company (HDFC) in the world's second most-populous country.
What happened HDFC Bank (NYSE: HDB) stock rocketed higher on Monday, surging 8.4% as of 10:40 a.m. ET after hitting a high of 11.8% within a minute of the market's opening. The Indian banking behemoth is making a huge growth move that could be a game changer in a competitive domestic market.