HDFC gains after revising RPLR

HDFC rose 0.4% to Rs 1,844 at 09:35 IST on BSE after the company announced hike in retail prime lending rate with effect from 1 April 2018.

The announcement was made after market hours yesterday, 9 April 2018.

Meanwhile, the S&P BSE Sensex was up 151.58 points, or 0.45% to 33,940.12.

On the BSE, 4,166 shares were traded in the counter so far, compared with average daily volumes of 45,000 shares in the past two weeks. The stock had hit a high of Rs 1,849.70 and a low of Rs 1,839.50 so far during the day. The stock hit a record high of Rs 1,982 on 29 January 2018. The stock hit a 52-week low of Rs 1,460.70 on 12 April 2017.

The large-cap company has equity capital of Rs 335.18 crore. Face value per share is Rs 2.

HDFC said that the company has increased its retail prime lending rate (RPLR), on which its adjustable rate home loans (ARHL) is benchmarked, by 20 basis points, with effect from 1 April 2018.

HDFC's consolidated net profit surged 144.7% to Rs 6677.06 crore on 35.4% rise in total income to Rs 20294.82 crore in Q3 December 2017 over Q3 December 2016.

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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