HDFC slips on profit booking

HDFC dropped 2.19% to Rs 1,423.10 at 14:35 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was up 27.46 points or 0.09% at 29,005.48.

On BSE, so far 40,000 shares were traded in the counter as against average daily volume of 1.69 lakh shares in the past one quarter. The stock hit a high of Rs 1,463.25 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1,418.50 so far during the day. The stock had hit a 52-week low of Rs 1,012 on 25 February 2016. The stock had outperformed the market over the past one month till 6 September 2016, advancing 8.54% compared with 3.2% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 16.23% as against Sensex's 8.22% rise.

The large-cap company has equity capital of Rs 316.59 crore. Face value per share is Rs 2.

Shares of HDFC had rallied 7.17% in the preceding seven trading sessions to settle at Rs 1,454.90 yesterday, 6 September 2016, from its close of Rs 1,357.60 on 25 August 2016.

HDFC's net profit rose 37.5% to Rs 1870.73 crore on 19.4% growth in total income to Rs 8393.33 crore in Q1 June 2016 over Q1 June 2015.

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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