RBI had given approvals for LIC to increase its stake in HDFC Bank upto 9.99% in another 1 year

India central government i.e RBI had given approvals for LIC to increase its stake in HDFC Bank up to 9.99% in another 1 year.
Currently LIC holding 5.19% of HDFC Bank shares in its portfolio.
So this approval gives LIC permission from RBI to increase its holding by additional 4.8%.

HDFC Bank share may witness positive momentum on Monday trade i.e on Jan 29th. Friday is a holiday for India stock markets on account of Republic Day. So this approval impact will be visible on Monday market.

Fundamentally as HDFC Bank is good company, there is high probability that LIC will add more shares of HDFC Bank to its portfolio.

HDFC Bank ADR in NYSE witnessed 2.97% gain post this approval news is released. 

In India, there is possibility of positive momentum in HDFC Bank on Jan 29th only as Friday is a holiday in India.