HDFC shares gain over 2% on fund raising plans

Shares of HDFC today rose by over 2 per cent as the company will raise Rs 525 crore through debt instruments on private placement basis to augment its long term resources.
The stock of the housing finance major ended the day with 1.91 per cent gains at Rs 1,152.60 on BSE. During the day, it climbed 2.2 per cent to Rs 1,156.
The stock was the top gainer among the 30-Sensex components.
At NSE, shares of the company rose by 2.17 per cent to close at Rs 1,153.15.
On the volume front, 1.34 lakh shares of the company changed hands at BSE and over 45 lakh shares were traded at NSE during the day.

Housing Development Finance Corporation (HDFC) will issue secured redeemable non-convertible debentures on March 11, 2016 to raise the required sum, it had said in a BSE filing yesterday.
"The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilised for financing or refinancing the housing finance business requirements of the Corporation", it added.