HDFC Life shares jump 8% to turn top Nifty gainer. What’s cooking?
HDFC Life Insurance shares surges to Rs 554.6 after the Reserve Bank of India permitted HDFC Ltd or HDFC Bank to hike their shareholding in HDFC Life and HDFC ERGO above 50% before the effective date of the merger. HDFC Bank CFO Srinivasan Vaidyanathan states that there were no guidelines on whether this action had to be achieved through fresh fund infusion or purchases from the market.
