Dewan Housing Finance hits record high

Dewan Housing Finance rose 2.54% to Rs 522.50 at 11:04 IST on BSE after the company said its board at a meeting held yesterday, 27 February 2015, approved closure of QIP.

The announcement was made after market hours yesterday, 27 February 2015.

Meanwhile, the S&P BSE Sensex was up 253.95 points or 0.87% at 29,474.07.

On BSE, so far 1.41 lakh shares were traded in the counter as against average daily volume of 2.35 lakh shares in the past one quarter.

The stock hit a high of Rs 528.30 so far during the day, which is a record high for the counter. The stock hit a low of Rs 515.50 so far during the day. The stock had hit a 52-week low of Rs 203.25 on 19 March 2014.

The stock had outperformed the market over the past one month till 27 February 2015, surging 4.99% compared with Sensex's 1.19% fall. The scrip had however outperformed the market in past one quarter, jumping 28.01% as against Sensex's 2.75% rise.

The mid-cap company has equity capital of Rs 128.75 crore. Face value per share is Rs 10.

Dewan Housing Finance (DHFL)'s board of directors at its meeting held yesterday, 27 February 2015, approved the issue price of Rs 478.18 per share. The issue price is at a discount of 3.39% to the floor price of Rs 494.95 per share.

DHFL's net profit rose 15.4% to Rs 159.65 crore on 17.3% growth in total income to Rs 1526.54 crore in Q3 December 2014 over Q3 December 2013.

DHFL provides loans for purchase or construction of residential houses.

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