December 15, 2017 / 6:41 AM / a month ago

BUZZ-India's HDFC Bank hits record high on fund-raising plan

** Shares of HDFC Bank Ltd rise as much as 2.7 pct to a record high of 1,888 rupees

** Bank to consider on Dec 20 fund-raising proposal by selling shares through qualified institutional placement or American Depository Receipts programme, among others

** HDFC Bank to also consider a preferential issue to parent Housing Development Finance Corp Ltd

** HDFC Bank stock among top pct gainers on broader NSE index, accounts for almost a quarter of the index’s gains

** Jefferies maintains “buy” with a price target of 2,165 rupees

** HDFC board to meet on Dec. 19 to discuss fund-raising plan to subscribe to HDFC Bank shares, stock up 1.3 pct

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