HDFC Bank's share price surged over 3% to reach a record high in early trade on Wednesday, driven by expectations of substantial passive fund inflows amid a likely increase in the bank's weight in the MSCI index. The shares of HDFC Bank jumped as much as 3.66% to a fresh high of Rs 1,794.00 apiece on the NSE. The recent shareholding pattern of HDFC Bank reveals that foreign institutional investors (FII) ownership in the bank has dropped below 55%, a development anticipated to boost the stock's weightage in the MSCI index, subsequently leading to higher passive inflows. According to BSE data, as of June 2024, FII ownership in HDFC Bank stands at 54.8%. Moving on, The stock of Vraj Iron and Steel debuted at Rs 240 on NSE, a premium of 16% to the issue price. Vraj Iron and Steel IPO collected Rs 171 crore from investors. The IPO had an entirely fresh segment of 8.3 million shares.