April 23, 2014

Press Release No. 1

News about HDFC Bank Limited and JM Financial Limited

The media had reports that "On buzz of Merger with HDFC Bank JM Financial Stock soars".

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the companies.

HDFC Bank Limited has vide its letter inter-alia stated, “The news is untrue and there are no such negotiations taking place with the Bank in this regard."

JM Financial Limited has vide its letter inter-alia stated, “In this connection, we wish to inform you that we are not engaged in any discussions/negotiations with HDFC Bank for merger of JM Financial Limited. The said news report appears to be speculative."