HDFC Chairman rings opening bell at NYSE

NEW YORK: India's largest housing finance company HDFC's Chairman Deepak S Parekh on Thursday rung the opening bell at the New York Stock Exchange (NYSE) to mark the beginning of the day's trading at the bourse.

Parekh is being honoured on Friday by the American Indian Foundation, a non-profit foundation working towards accelerating social and economic change in India.

HDFC was listed on the NYSE on July 20, 2001 after an initial public offer of its American Depositary Shares in the US market. The ADS was trading at 73.5 dollars in the early morning trade at NYSE, down 0.13 per cent from its previous close of 73.61 dollar.

The American India Foundation (AIF) is hosting its annual Spring Awards Gala on May 11 to raise funds for its development work in India in the fields of education, livelihood and public health.

"With strong support from Indo-centric individuals and corporations in the US, AIF is in a truly unique and exciting position to have a meaningful and lasting impact in India," AIF Executive Director Pradeep Kashyap said.

Besides Parekh, IAF is also honouring American International Group (AIG) Inc President and CEO Martin J Sullivan for his philanthropy and leadership.

The guests at the previous annual events of AIF include Hillary Rodham Clinton, Deepak Chopra, Richard Gere and A R Rahman and the foundation is expecting many high-profile guests again this year.

AIF was formed in 2001 under the leadership of President Bill Clinton, who now serves as the Honorary Chair.

The AIF India Advisory Council comprises of ICICI Bank's K V Kamath and HDFC's Deepak Parekh as co-chairmen, Parmeshwar Godrej and R A Mashelkar among others.