This is just a suggestion. One must make conclusions based on facts, not assumptions. So, just in case you don’t have the actual numbers, it’s better to find them rather than assuming that HDFC Bank gave them 0 gain or whatever. I am not saying whether what i am saying is right or you are wrong but let’s just not assume things.
I have tried finding some data to help us find an answer to this statement –
I was unable to find the buying/selling price but here are other details –
November 2023
June 2024
So the management has been saying that they will be liquidating these shares and if we go by the statement of the management and calculate they made almost an 80-90% gain on sale of HDFC Bank shares which they bought in 2018. This move looks like a decent decision, instead of selling those shares they took a loan where they could get the required capital but at the same time retain an appreciating asset (risky but worth it) so when the share price went up so did their collateral value which increased their credit limit further and the gain in share price made the loan interest free.
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