HDFC edges lower after posting weak Q1 results

HDFC declined 0.13% to Rs 1,630.10 at 14:35 IST on BSE after consolidated net profit fell 2.25% to Rs 2733.87 crore on 6.88% rise in total income to Rs 14463.01 crore in Q1 June 2017 over Q1 June 2016.

The company announced its Q1 results during market hours today, 26 July 2017.

Meanwhile, the S&P BSE Sensex was up 129.42 points or 0.4% at 32,357.69.

High volumes were witnessed on the counter. On the BSE, 5.12 lakh shares were traded on the counter so far as against the average daily volumes of 3.38 lakh shares in the past one quarter. The stock had hit a high of Rs 1,645 and a low of Rs 1,620.65 so far during the day. The stock had hit a 52-week high of Rs 1,680.50 on 13 June 2017. The stock had hit a 52-week low of Rs 1,185 on 5 December 2016.

The stock declined 1.12% over the past one month till 25 July 2017, underperforming the Sensex's 3.5% rise. The scrip had also underperformed the market in past one quarter, rising 5.42% as against Sensex's 7.63% rise. The scrip had, however, outperformed the market in past one year, rising 18.28% as against Sensex's 14.71% rise.

The large-cap company has equity capital of Rs 318.58 crore. Face value per share is Rs 2.

HDFC's board of directors approved issue of secured, redeemable, non convertible debentures aggregating Rs 35000 crore on private placement basis.

HDFC is India's first retail housing finance company and is currently one of the largest originators of housing loans in the country.

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