Sovereign wealth funds of Abu Dhabi and Singapore were the buyers of HDFC Bank shares in October-December, when the stock fell almost 9%, according to shareholding data on BSE.
Abu Dhabi Investment Authority bought 4.53 crore shares, or 1.98%, and the Government of Singapore purchased 2.81 crore shares, or 1.2% of HDFC Bank, India's second-largest private lender.
Analysts said the bank's steady prospects coupled with the stock's weakness may have prompted these large investors to buy the shares. These funds did not own HDFC Bank at the end of September quarter.
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