 "Exide")
The buyout of Exide Life by HDFC Life had an interesting market impact. The share price of HDFC Life dropped 3.25 per cent after rising over 10 per cent in the past 10 sessions. The share price of Exide Industries rose 6.4 per cent.
Going by that, the market thinks the deal will benefit Exide Industries for sure, and is less sure about HDFC Life. Apart from profit-booking, HDFC Life shareholders were disappointed since they were expecting a fund-raising plan, which may not be on the cards.
HDFC Life pays Rs 6,687 crore in a cash-cum-share deal, with cash of
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