HDFC gains after decent Q1 earnings

Housing Development Finance Corporation rose 3.45% to Rs 1014.90 at 15:02 IST on BSE after consolidated net profit rose 9.71% to Rs 1872.90 crore on 18.46% growth in total income to Rs 10039.40 crore in Q1 June 2014 over Q1 June 2013.

The Q1 result was announced during market hours today, 21 July 2014.

Meanwhile, the S&P BSE Sensex was up 146.32 points or 0.57% at 25,787.88.

On BSE, so far 1.10 lakh shares were traded in the counter as against average daily volume of 1.97 lakh shares in the past one quarter.

The stock hit a high of Rs 1015.75 and a low of Rs 986.85 so far during the day. The stock had hit a record high of Rs 1045.20 on 8 July 2014. The stock had hit a 52-week low of Rs 632.20 on 28 August 2013.

The stock had outperformed the market over the past one month till 18 July 2014, advancing 2.4% compared with Sensex's 1.57% rise. The scrip had, however, underperformed the market in past one quarter, jumping 11.48% as against Sensex's 13.31% rise.

The large-cap housing finance company has equity capital of Rs 313.39 crore. Face value per share is Rs 2.

Housing Development Finance Corporation (HDFC) has a wide network of offices 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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