Gruh Finance drops on profit booking

Gruh Finance dropped 1.74% to Rs 294.40 at 10:40 IST on BSE on profit booking after the company's net profit rose 19.61% to Rs 60.18 crore on 17.98% rise in total income to Rs 350.12 crore in Q1 June 2016 over Q1 June 2015.

The result was announced after market hours yesterday, 18 July 2016. Ahead of results, the stock had risen 4.04% in four sessions from a close of Rs 287.95 on 12 July 2016 to Rs 299.60 on 18 July 2016.

Meanwhile, the S&P BSE Sensex was down 6.44 points or 0.02% at 27,740.22.

On BSE, so far 23,296 shares were traded in the counter as against average daily volume of 30,451 shares in the past one quarter. The stock hit high of Rs 304.30 and a low of Rs 291.05 so far during the day. The stock hit a 52-week high of Rs 306.70 on 18 July 2016. The stock hit a 52-week low of Rs 219 on 25 August 2015. The stock had outperformed the market over the past one month till 18 May 2016, gaining 10.21% compared with 4.21% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 17.03% as against Sensex's 7.48% gains.

The large-cap company has an equity capital of Rs 72.74 crore. Face value per share is Rs 2.

Gruh Finance's loan assets increased 24% to Rs 11544 crore as on 30 June 2016 from Rs 9329 crore as on 30 June 2015. The ratio of gross non performing assets (NPAs) to loan assets stood at 0.56% as on 30 June 2016 as against 0.52% as on 30 June 2015.

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

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