Dewan Housing Finance spurts after large bulk deal

Dewan Housing Finance Corporation jumped 5.79% to Rs 218.20 at 11:22 IST on BSE after 1.3% equity changed hands in a bulk deal today, 21 March 2014.

A bulk deal of 16.79 lakh shares was executed on the Dewan Housing Finance Corporation counter at Rs 215.05 per share in opening trade on BSE today, 21 March 2014.

Meanwhile, the BSE Sensex was up 11.81 points, or 0.05%, to 21,751.90

Bulk deal boosted volume on the Dewan Housing Finance Corporation scrip. On BSE, so far 17.09 lakh shares were traded in the counter, compared with an average volume of 1.37 lakh shares in the past one quarter.

The stock hit a high of Rs 224.95 and a low of Rs 210.25 so far during the day. The stock hit a 52-week high of Rs 242.65 on 24 January 2014. The stock 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 20 March 2014, falling 2.14% compared with the Sensex's 5.86% rise. The scrip, however, outperformed the market in past one quarter, gaining 10.95% as against Sensex's 3.13% rise.

The small-cap housing finance company has an equity capital of Rs 128.42 crore. Face value per share is Rs 10.

Dewan Housing Finance Corporation's net profit rose 51.7% to Rs 138.39 crore on 54.8% increase in total income to Rs 1301.37 crore in Q3 December 2013 over Q3 December 2012.

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

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