China central bank cuts HDFC stake to below 1%

People’s Bank of China (PBoC), the Chinese central bank that owned a little over 1% in mortgage finance leader HDFC as of March-end, has sold some shares from its holding during the April-June quarter. This has resulted in its stake in the blue-chip company coming down to below 1%. As per Sebi, all listed companies need to disclose entities that hold at least 1% equity.

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