HDFC Bank, India’s most popular stock among foreign investors, is usually lapped up by them at every opportunity. But on Monday, when overseas investors had a chance to buy up to roughly Rs 9,400 crore worth of HDFC Bank shares, many foreign portfolio managers — even those that have been traditionally bullish on the lender — chose to give it a miss or kept their purchase to the minimum.Overseas investors could buy roughly 1.7 per cent or 4.35 crore shares of HDFC Bank on Monday after a recent employee stock option issue resulted in dilution of equity, giving foreigners room to buy some more. Foreign brokerage officials said these investors, however, bought only a portion of the shares that were freed up. In the special trading window only for FIIs, which is available until the end of June, about 13 lakh shares of HDFC Bank were traded, said brokers.
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