HUDCO hits 52-week high on stable outlook; stock up 40% so far in November

Moody's Investor Service expects the HUDCO's liquidity and funding to remain stable over the next 12-18 months because of its status as a government-owned company

Shares of Housing & Urban Development Corporation (HUDCO) surged 5 per cent to hit a 52-week high of Rs 50.65 per share in Wednesday’s intra-day trade. So far in the month of November, the stock of this state-owned financial institution company has zoomed 40 per cent on stable outlook. In comparison, the S&P BSE Sensex was up 1.3 per cent, during the same period.

On October 31, India Rating and Research Private Limited (Ind-Ra) assigned HUDCO’s FY23 borrowing programme ‘IND AAA'/Stable and affirmed existing ratings. Meanwhile, on November 17, Moody’s Investor Service, Singapore — affirmed the ratings of HUDCO