Gruh Finance hits record high, stock surges 14%

The stock outperformed the market by appreciating 25% after turning ex-stock split on July 25

Gruh Finance has surged 14% at Rs 193, its historic high, on back of huge volumes. The stock opened at Rs 171 and has seen a combined 491,950 shares changing hands on the counter so far, against an average less than 40,000 shares that were traded daily in past two weeks on the NSE and BSE.

The stock of leading home loan provider has outperformed the market by appreciating 25% after turning ex-stock split on July 25. The benchmark index Sensex has gained 6% during the same period. The company sub divided the nominal face value of the equity shares of Rs 10 each into five equity shares of nominal face value of Rs 2 each

 

Meanwhile, a subsidiary of HDFC, has reported the growth of 30% in its net profits for April-June quarter at Rs 26.72 crore over the previous year. The gross non-performing assets (NPAs) dropped to Rs 29.73 crore as on June 30, 2012 from Rs 37.74 crore as on June 30, 2011.