Gruh Finance drops after bulk deal

Gruh Finance lost 2.91% to Rs 203.35 at 15:01 IST on BSE after 0.39% equity changed hands in a bulk deal on BSE today, 3 September 2014.

A bulk deal of 14.32 lakh shares was executed on the Gruh Finance counter at Rs 207.60 per share at 10:21 IST on BSE today, 3 September 2014.

Meanwhile, the BSE Sensex was up 110.01 points, or 0.41%, to 27,129.40

Bulk deal boosted volume on the scrip. On BSE, so far 15.46 lakh shares were traded in the counter, compared with an average volume of 53,293 shares in the past one quarter.

The stock hit a high of Rs 210.80 and low of Rs 200 so far during the day. The stock hit a record high of Rs 229.45 on 16 July 2014. The stock hit a 52-week low of Rs 101 on 2 September 2013.

The stock had underperformed the market over the past one month till 2 September 2014, rising 3.51% compared with 6.04% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 17.08% as against Sensex's 9.46% rise.

The mid-cap company has an equity capital of Rs 72.51 crore. Face value per share is Rs 2.

Gruh Finance's net profit rose 24.1% to Rs 41.91 crore on 31.9% growth in total income to Rs 241.62 crore in Q1 June 2014 over Q1 June 2013.

Gruh Finance is engaged in providing loan for purchase and construction of residential houses. Gruh Finance is a subsidiary of housing finance major HDFC, which holds 59.15% stake in the firm (as per the shareholding pattern as on 30 June 2014).

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