Hdfc Bank LTD (HDB) Stock Value Declined While Martin Currie LTD Trimmed Its Stake

October 2, 2018 - By Adrian Mccoy

HDFC Bank Limited (NYSE:HDB) Logo

Martin Currie Ltd decreased its stake in Hdfc Bank Ltd (HDB) by 3.31% based on its latest 2018Q2 regulatory filing with the SEC. Martin Currie Ltd sold 44,432 shares as the company’s stock declined 6.74% while stock markets rallied. The institutional investor held 1.30M shares of the commercial banks company at the end of 2018Q2, valued at $136.35 million, down from 1.34 million at the end of the previous reported quarter. Martin Currie Ltd who had been investing in Hdfc Bank Ltd for a number of months, seems to be less bullish one the $77.09 billion market cap company. The stock decreased 0.58% or $0.54 during the last trading session, reaching $93.07. About 108,439 shares traded. HDFC Bank Limited (NYSE:HDB) has declined 3.92% since October 2, 2017 and is downtrending. It has underperformed by 19.54% the S&P500.

Martin Currie Ltd, which manages about $1.43B US Long portfolio, upped its stake in Ishares Tr (INDA) by 425,682 shares to 1.78 million shares, valued at $59.22M in 2018Q2, according to the filing. It also increased its holding in Accenture Plc Ireland (NYSE:ACN) by 49,541 shares in the quarter, for a total of 82,960 shares, and has risen its stake in Starbucks Corp (NASDAQ:SBUX).

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