HUDCO jumps after robust Q1 results

Housing and Urban Development Corporation rose 8.27% to Rs 60.25 at 10:23 IST on BSE after net profit rose 105.31% to Rs 333.38 crore on 73.42% increase in total income to Rs 1614.09 crore in Q1 June 2018 over Q1 June 2017.

The result was announced after market hours yesterday, 5 September 2018.

Meanwhile, the S&P BSE Sensex was up 115.50 points, or 0.30% to 38,133.81.

On the BSE, 8.69 lakh shares were traded in the counter so far compared with average daily volumes of 1.98 lakh shares in the past two weeks. The stock had hit a high of Rs 63.80 and a low of Rs 59.75 so far during the day. The stock hit a 52-week high of Rs 92.60 on 21 September 2017. The stock hit a record low of Rs 51.15 on 20 July 2018.

Housing and Urban Development Corporation (HUDCO) is a wholly-owned public sector undertaking (PSU) company, providing loans for housing and urban infrastructure projects in India. As on 30 June 2018, the government held 89.81% stake in the company.

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