HDFC slips on profit booking

HDFC slipped 2.77% to Rs 1,308.35 at 14:40 IST on BSE on profit booking after reporting good Q3 results.

The lender announced Q3 results during market hours today, 29 January 2015.

Meanwhile, the S&P BSE Sensex was down 106.01 points or 0.36% at 29,453.17.

On BSE, so far 1.37 lakh shares were traded in the counter as against average daily volume of 1.13 lakh shares in the past one quarter.

The stock hit a high of Rs 1,343 and a low of Rs 1,307.10 so far during the day. The stock had hit a record high of Rs 1,360.70 on 28 January 2015. The stock had hit a 52-week low of Rs 755.60 on 14 February 2014.

In a pre-result rally, from a recent low of Rs 1,279.80 on 22 January 2015, the stock had risen 5.07% in three trading sessions.

The stock had outperformed the market over the past one month till 28 January 2015, gaining 20.7% compared with Sensex's 8.51% rise. The scrip had also outperformed the market in past one quarter, gaining 28.47% as against Sensex's 9.96% rise.

The large-cap housing finance major has equity capital of Rs 314.48 crore. Face value per share is Rs 2.

HDFC's net profit rose 11.56% to Rs 1425.49 crore on 14.12% rise in total income to Rs 6882.52 crore in Q3 December 2014 over Q3 December 2013. The company's provision for contingencies rose to Rs 45 crore in Q3 December 2014 compared with Rs 35 crore in Q2 September 2014 and Rs 25 crore in Q3 December 2013.

As of 31 December 2014, loan book stood at Rs 219951 crore as against Rs 192284 crore as of 31 December 2013. This is after considering the loans sold during the preceding 12 months amounting Rs 8566 crore.

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