HDFC gains 9% in three days on steady performance in June quarter

The funding advantage and adequate capital will aid growth and earnings while healthy provision buffer and improvement in collection will aid asset quality, analysts said

Shares of Housing Development Finance Corporation (HDFC) were up 4 per cent at Rs 2,649.75 on the BSE in intra-day trade on Wednesday, gaining 9 per cent in the past three trading days after the housing finance company (HFC) reported a steady performance for the quarter ended June 2021 (Q1FY22). The stock was trading higher for the fourth straight day.

India’s biggest mortgage lender HDFC on Monday reported a 1.6 per cent year-on-year (YoY) decrease in standalone net profit at Rs 3,001 crore for the April-June quarter of FY22 (Q1FY22) on the back of lower other income and higher tax and