HDFC extends rally, jumps 5%; stock surges 15% in three days

Analysts expects the asset quality in housing to hold up well, although slippages from self-employed affordable housing segment may increase

Shares of Housing Development Finance Corporation (HDFC) were trading higher for the third straight day, up 5.5 per cent to Rs 1,808.50 on the BSE on Wednesday as investors indulged in some value buying after the price erosion during the coronavirus-induced sell-off.

The stock of the country's largest private sector mortgage company has rallied 15 per cent in the past three trading days, as compared to 3.5 per cent rise in the S&P BSE Sensex. Prior to that, in four trading days, it had underperformed the market and fell 9 per cent, against 1 per cent decline in the