GRUH Finance gains after strong Q1 earnings

The Q1 result was announced after market hours on Monday, 8 July 2013.

Meanwhile, the S&P BSE Sensex was up 119.96 points or 0.62% at 19,444.73.

On BSE, 5,446 shares were traded in the counter as against average daily volume of 18,015 shares in the past one quarter.

The stock hit a high of Rs 245.40 and a low of Rs 237.25 so far during the day. The stock had hit a 52-week low of Rs 145.30 on 31 July 2012. The stock had hit a record high of Rs 249.70 on 4 January 2013.

The stock had outperformed the market over the past one month till 8 July 2013, rising 2.99% compared with the Sensex's 0.54% fall. The scrip had also outperformed the market in past one quarter, surging 8.74% as against Sensex's 4.81% rise.

The mid-cap company has equity capital of Rs 35.88 crore. Face value per share is Rs 2.

GRUH Finance's disbursements rose 29% to Rs 566.86 crore in Q1 June 2013 over Q1 June 2012. Loan assets increased 32% to Rs 5727.21 crore as on 30 June 2013, from Rs 4338.49 crore as on 30 June 2012.

The gross non-performing assets (NPAs) of the company stood at Rs 26.30 crore as on 30 June 2013, as against Rs 29.73 crore as on 30 June 2012.

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 59.69% stake in the firm (as per the shareholding pattern as on 31 March 2013).

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