HDFC Bank's shares fell by 3.46 percent to close the day at Rs 659 on the BSE. In intra-day session, the scrip lost 4 percent to Rs 655.10. (Agencies)
At the NSE, the blue-chip stock went down by 3.67 percent to Rs 659.25.
The stock was the top loser among the blue-chips on both Sensex and Nifty.
"Banking major HDFC Bank dipped 3.6 percent as RBI has curbed share purchase by FIIs as their shareholding reached the maximum prescribed limit," said Milan Bavishi, Head Research, Inventure Growth and Securities.
Stakes held by overseas investors, including Foreign Institutional Investors (FIIs), non-resident Indians (NRIs), persons of Indian origin (PIOs), Foreign Direct Investment (FDI) and Global Depository Receipts (GDR) in HDFC Bank have crossed the ceiling of 49 percent of its paid-up capital, the RBI said in a release yesterday.
No further purchases of the bank's shares will be allowed through the stock exchanges on behalf of overseas investors, it had said.
At the end of September quarter, FIIs held 33.61 percent stake in HDFC Bank.
FIIs, NRIs and PIOs are allowed to invest in the primary and secondary capital markets through the portfolio investment scheme, under which they can acquire shares and debentures of Indian companies through the stock exchanges.
RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis.
HDFC Bank's shares fell by 3.46 percent to close the day at Rs 659 on the BSE. In intra-day session, the scrip lost 4 percent to Rs 655.10.