HDFC gains after block deals

Housing Development Finance Corporation rose 1.31% to Rs 825.10 at 10:55 IST on BSE after two block deals aggregating 9.5 lakh shares were executed in the counter on BSE.

A block deal of 4.5 lakh shares was executed at Rs 817.50 per share at 9:28 IST while another block deal of 5 lakh shares was executed at Rs 825 per share at 10:05 IST. The two block deals constitute 0.06% of Housing Development Finance Corporation (HDFC)'s equity.

Meanwhile, the S&P BSE Sensex was up 262.14 points or 1.28% at 20,797.05.

On BSE, 10.26 lakh shares were traded in the counter as against average daily volume of 88,000 shares in the past two weeks.

The stock hit a high of Rs 826.05 and a low of Rs 813 so far during the day. The stock had hit a record high of Rs 931 on 30 May 2013. The stock had hit a 52-week low of Rs 632.20 on 28 August 2013.

HDFC's consolidated net profit rose 20.1% to Rs 1891.17 crore on 15% growth in total income to Rs 9982.71 crore in Q2 September 2013 over Q2 September 2012.

Housing finance major HDFC has a wide network of offices catering to over 2,400 towns and cities spread across the country. It also has offices in Dubai, London and Singapore and service associates in the Middle East region, to provide housing loans and property advisory services to Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs).

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