HDFC slips after Q3 results

HDFC fell 1.24% to Rs 1924.40 at 14:24 IST on BSE after net profit fell 60.12% to Rs 2113.80 crore on 19.77% increase in total income to Rs 10569.12 crore in Q3 December 2018 over Q3 December 2017.

The result was announced during trading hours today, 29 January 2019.

Meanwhile, the S&P BSE Sensex was down 204.91 points, or 0.57% to 35,451.79.

On the BSE, 59,000 shares were traded in the counter so far compared with average daily volumes of 78,000 shares in the past two weeks. The stock had hit a high of Rs 1949.05 and a low of Rs 1909.45 so far during the day. The stock hit a 52-week high of Rs 2,051 on 30 July 2018. The stock hit a 52-week low of Rs 1,646 on 23 October 2018.

HDFC said that its board approved issuance of secured redeemable non-convertible debentures under a shelf disclosure document (Series - V), aggregating to Rs 45,000 crore, in various tranches, on a private placement basis.

Further, the board also approved appointment of Ireena Vittal as an independent director (additional director) on the Board of Directors of the Corporation for a period of 5 years with effect from 30 January 2019.

HDFC is a leading provider of housing finance in India.

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