Dewan Housing Finance jumps after ratings upgrade by CARE

Dewan Housing Finance Corporation surged 6.49% to Rs 357.60 at 15:19 IST on BSE after the firm said that CARE has up-graded the ratings assigned to the long term bank facilities and other instruments/securities of the company.

The announcement was made during market hours today, 26 June 2014.

Meanwhile, the S&P BSE Sensex was down 272.13 points or 1.08% at 25,041.61.

On BSE, so far 3.11 lakh shares were traded in the counter as against average daily volume of 8.63 lakh shares in the past one quarter.

The stock hit a high of Rs 367.40 and a low of Rs 332.15 so far during the day. The stock had hit a record high of Rs 379.90 on 10 June 2014. The stock had hit a 52-week low of Rs 101.50 on 25 September 2013.

The stock had underperformed the market over the past one month till 25 June 2014, advancing 0.31% compared with Sensex's 2.51% rise. The scrip had, however, outperformed the market in past one quarter, jumping 57.17% as against Sensex's 14.77% rise.

The mid-cap housing finance company has equity capital of Rs 128.61 crore. Face value per share is Rs 10.

Dewan Housing Finance Corporation's net profit fell 28.3% to Rs 141.17 crore on 17.4% decline in total income to Rs 1417.08 crore in Q4 March 2014 over Q4 March 2013.

Dewan Housing Finance Corporation's main business is to provide loans for purchase or construction of residential houses.

Powered by Capital Market - Live News