Shares of the nation’s main non-public sector life insurance coverage firm, HDFC Life Insurance Company, rose as a lot as 7.8 per cent to hit document excessive of Rs 775.65 a day forward of its board assembly to contemplate preferential allotment of shares. Surge in HDFC Life share value got here on the again of heavy buying and selling volumes as 12.59 lakh shares modified palms on the BSE in contrast with a mean of 1.41 lakh shares traded day by day previously two weeks, in response to information from the BSE.
HDFC Life’s board will meet tomorrow, September 3, to contemplate subject of fairness shares or different securities of the corporate by approach of preferential allotment.
“We wish to inform you that a meeting of the Board of Directors of HDFC Life Insurance Company Limited (the “Company”) is proposed to be held on Friday, September 3, 2021 to consider issue of equity shares and / or other securities of the Company by way of preferential allotment, subject to such approvals as may be required under applicable law, and to consider convening of a meeting of the shareholders’ of the Company to obtain approval for such issue, if required,” HDFC Life stated in a inventory trade submitting.
HDFC Life shares have to date this yr surged 15 per cent in contrast with a acquire of 21 per cent within the Sensex.
As of 2:29 pm, HDFC Life was the highest gainer within the Nifty 50 basket of shares. The inventory was up 5.43 per cent at Rs 758.60 on the BSE, outperforming the Sensex which was up almost 1 per cent.