HDFC gains on bargain hunting

Housing Development Finance Corporation jumped 4.95% to Rs 1,123.50 at 15:19 IST on BSE, with the stock gaining on bargain hunting after recent decline.

Meanwhile, the S&P BSE Sensex was down 43.31 points or 0.16% at 27,307.37

On BSE, so far 1.01 lakh shares were traded in the counter as against average daily volume of 82,224 shares in the past one quarter.

The stock was volatile. The stock hit a high of Rs 1,127.65 and a low of Rs 1,061.85 so far during the day. The stock had hit a record high of Rs 1,177 on 28 November 2014. The stock had hit a 52-week low of Rs 755.60 on 14 February 2014.

The stock had underperformed the market over the past one month till 12 December 2014, falling 6.29% compared with 2.35% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 1.95% as against Sensex's 1.07% rise.

The large-cap housing finance company has equity capital of Rs 314.31 crore. Face value per share is Rs 2.

Shares of HDFC had declined 3.96% in five trading days to Rs 1,070.25 on 12 December 2014 from a recent high of Rs 1,114.40 on 5 December 2014.

HDFC reported 7.2% rise in net profit to Rs 1357.56 crore on 12% growth in total income to Rs 6670.67 crore in Q2 September 2014 over Q2 September 2013.

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).

Powered by Capital Market - Live News