HDFC Bank shares fall after Sebi imposes monetary penalty of Rs 1 crore

HDFC Bank share price shed a percent in early trade on January 22 after the Securities & Exchange Board of India (Sebi) levied a monetary penalty on the bank.

Sebi, vide its Final Order dated January 21, 2021, has levied a monetary penalty of Rs 1 crore payable by the bank in terms of Section 15HB of the SEBI Act, in the matter of M/s. BRH Wealth Kreators Limited, for non‐compliance with the interim order issued by SEBI concerning the said matter, the company said in the release.

Further, the bank has been directed vide the order to transfer an amount of Rs 158.68 crore along with interest from October 14, 2019, till date, it added. At 09:21 hrs HDFC Bank was quoting at Rs 1,460.45, down Rs 14.35, or 0.97 percent on the BSE.

The share touched its 52-week high Rs 1,511 and 52-week low Rs 738.90 on 19 January, 2021 and 24 March, 2020, respectively.

Currently, it is trading 3.35 percent below its 52-week high and 97.65 percent above its 52-week low.