Here's why Hudco shares were in high demand on bourses on October 29

The upward movement in Hudco's share price followed the company's announcement that it had signed 3 non-binding Memorandums of Understanding (MoUs)

Hudco share price: Shares of Housing and Urban Development Corporation (Hudco) were in high demand on Wednesday, October 29, driven by bonus-related news. The stock advanced 3.55 per cent to an intraday high of ₹233.95 per share on the NSE.

 

At 01:30 PM, the stock was trading at ₹232.92 per share, up 3.10 per cent from its previous close of ₹225.92 per share. A combined total of nearly 5.08 million equity shares of Hudco, estimated to be worth ₹117.39 crore, had been exchanged on the NSE and BSE so far. The company’s market capitalisation stood at ₹46,644.27 crore on the NSE.

 

Why were Hudco shares in high demand?

 

The upward movement in Hudco’s share price followed the company’s announcement that it had signed non-binding Memorandums of Understanding (MoUs) with Paradip Port Authority, Odisha (PPA), Visakhapatnam Port Authority (VPA), and Mumbai Port Authority (MbPA) during the ongoing “India Maritime Week 2025.”

 

According to an exchange filing, the MoU with Paradip Port Authority (PPA) entails that Hudco will explore and provide funding of up to ₹5,100 crore to meet the requirements of new projects and refinance existing projects undertaken by PPA. The collaboration aims to cover the development, modernization, and upgradation of port and allied infrastructure through direct implementation or Public-Private Partnership (PPP) mode, and includes organising joint conferences and workshops for capacity and capability building of both organizations. 

 

The MoU with Visakhapatnam Port Authority (VPA) involves Hudco providing funds of up to ₹487 crore to support new projects and refinance or take over existing projects undertaken by VPA. This partnership also focuses on the development, modernization, and upgradation of port and allied infrastructure through direct implementation or PPP mode, along with joint capacity-building initiatives. 

 

Additionally, Hudco signed an MoU with Mumbai Port Authority (MbPA) for the development of a “Maritime Iconic Structure” in Mumbai. Under this agreement, Hudco will undertake the planning, designing, financing, and execution of the project, leveraging its expertise in infrastructure development, according to the exchange filing submitted by Hudco.