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HUDCO hits lowest level since listing

The stock of state-owned housing finance company was quoting lower for the ninth straight trading days, falling 7% during the period.

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SI Reporter Mumbai
Housing and Urban Development Corporation (HUDCO) hit its lowest level since listing at Rs 63.45, down 1% on the BSE. The stock of state-owned housing finance company was quoting lower for the ninth straight trading days, falling 7% during the period. It is trading close to its issue price of Rs 60 per share.

Since listing on May 19, 2017, HUDCO underperformed the market by falling 12% as compared to 15% rise in the S&P BSE Sensex.

HUDCO had made a strong debut on the stock exchanges. The shares listed at Rs 73.45, a 22% premium over its