Shares of mortgage lender HDFC surged over 5 per cent today amid reports that Standard Life plans to hike stake in its insurance arm HDFC Standard Life Insurance.
HDFC's stock ended the day 4.94 per cent higher at Rs 1,123.10 on the BSE. During the day, it gained 5.36 per cent to Rs 1,127.65.
The stock was the top gainer among the 30-Sensex constituents.
At the NSE, it surged 5.26 per cent to close at Rs 1,125.75.
Following the rally in the stock, its market value surged by Rs 8,591.82 crore to Rs 1,76,498.82 crore.
On the volume front, 1.08 lakh shares of the company changed hands at the BSE, while over 25 lakh shares were traded at the NSE during the day.
Rise in the stock capped the Sensex fall to a major extent which ended 31.12 points lower at 27,319.56.
As per media reports, Standard Life plans to increase its stake in joint venture HDFC Standard Life Insurance Co to 33 per cent from the current 26 per cent.
