HUDCO on Thursday (14 May) said it achieved loan sanctions of Rs 19942.04 crore and loan releases of Rs 10121.83 crore as on 31 March 2020 for the financial year 2019-2020.
Shares of HUDCO rose 0.21% to Rs 23.75 on BSE. The scrip traded in the range of Rs 23.15 to Rs 24.35 so far.
On the technical front, the stock's RSI (relative strength index) stood at 54.328. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading between its 50-day moving average (DMA) placed at 23.11 and its 200-day moving average (DMA) placed at 33.56.
HUDCO provides long term finance for construction of houses for residential purposes or finance or undertakes housing and urban development programs in the country.
The Government of India holds 89.806% stake in the housing financer as on 31 March 2020.
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