HDFC Bank released its shareholding pattern for September 2024 quarter.

What Happened: According to the shareholding pattern of HDFC Bank in the September 2024 quarter, foreign institutional investors (FIIs) increased their ownership in the private lender to 48.01% from 47.17% in the previous quarter. 

Vanguard Total International stock index fund increased its holdings in the private bank to 1.19% from 1.18% in June quarter. Government Pension Fund Global meanwhile reduced stake to 1.47% from 1.57%. The government of Singapore increased the stake to 2.41% from 2.10%.

The FII headroom in the stock remained above 20%, enabling the second tranche of weight increase in the MSCI index, said Nuvama Alternative & Quantitative Research. The next MSCI rejig is expected to happen in November. 

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MSCI announced in August that HDFC Bank's weightage in the Global Standard Index will be increased in two tranches. Nuvama predicted an inflow of $1.8 billion (around ₹15,112 crore) to the stock. 

On the other hand, mutual funds have reduced their stake in the private lender to 24.53% from 24.83%. Life Insurance Corporation of India increased its stake to 5.37% from 5.25%. 

Earlier, HDFC Bank announced a 7% year on year growth in gross advances to ₹25.2 lakh crore while its total deposits grew by 15.1% year on year to ₹25 lakh crore. 

Through bulk deals, Morgan Stanley and Citigroup acquired ₹755.29 crore worth of shares while BNP Paribas sold the shares. 

Price Action: Shares of HDFC Bank rose 0.01% to ₹1,682.30 after opening in the red on Friday. 

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