HDFC Bank shares slip nearly 1% despite Bahrain court win
Business
HDFC Bank's stock slipped nearly 1% on Friday, trading at ₹687.40, after touching a fresh 52-week low of ₹681.90 during the session.
This happened despite the bank scoring a big legal victory in Bahrain.
Trading was busy, with more than 13.4 million shares exchanged and price bands set between ₹763.15 and ₹624.45.
Bahrain court clears HDFC over AT1
A Bahrain court cleared HDFC Bank of allegations about mis-selling Credit Suisse AT1 bonds, saying there wasn't enough evidence and no losses could be pinned on the bank.
Investors were told to cover legal costs, which gave HDFC Bank some relief.
Still, the share price dropped amid broader market weakness and continued selling pressure.