Dewan Housing hits record high on recent rally

Dewan Housing Finance Corporation rose 3.55% to Rs 539.25 at 14:29 IST on BSE, with the stock hitting fresh record high on sustained buying interest.

Meanwhile, the S&P BSE Sensex was up 137.49 points or 0.43% at 31,839.74.

On the BSE, 1.57 lakh shares were traded on the counter so far as against the average daily volumes of 2.36 lakh shares in the past one quarter. The stock had hit a high of Rs 539 so far during the day, which is a record high. The stock hit a low of Rs 522 so far during the day. The stock had hit a 52-week low of Rs 214.20 on 21 November 2016.

The stock had outperformed the market over the past one month till 4 September 2017, advancing 14.09% compared with the Sensex's 1.93% fall. The stock had also outperformed the market over the past one quarter, gaining 25.74% as against the Sensex's 1.37% rise. The scrip had also outperformed the market over the past one year, advancing 81.29% as against the Sensex's 11.11% rise.

The large-cap company has equity capital of Rs 313.55 crore. Face value per share is Rs 10.

Shares of Dewan Housing Finance Corporation have rallied 20.15% in ten trading sessions to its ruling market price, from its close of Rs 448.80 on 21 August 2017.

Dewan Housing Finance Corporation's net profit rose 29.3% to Rs 260.48 crore on 23.1% growth in total income to Rs 2407.78 crore in Q1 June 2017 over Q1 June 2016.

Dewan Housing Finance Corporation provides loans for purchase or construction of residential houses.

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