Housing Development Finance Corporation (HDFC) rose 1.62% to Rs 2,388.90, extending gains for fourth day in a row.
The stock has added 4.33% in four sessions from its recent closing low of Rs 2,289.70 on 10 December 2020.
In the past three months, the stock has jumped 35.19% while the benchmark S&P BSE Sensex has added 18.42% during the same period.
In a BSE filing made after market hours yesterday, HDFC said it plans to issue secured redeemable non-convertible dentures (NCDs) of Rs 10 lakh each, aggregating to Rs 5,000 crore (base size of Rs 2,500 crore and Rs 2,500 crore under green shoe option) with a coupon rate of 4.23% per annum on a private placement basis. The NCDs will have a tenor of 14 months and will be redeemed on 18 February 2022.
The issue will open for bidding on 17 December 2020 and it will close on the same day. The object of the issue is to augment the long-term resources of the corporation. The proceeds will be utilized for financing or refinancing the housing finance requirements of the corporation.
Also Read
HDFC is engaged in financing by way of loans for the purchase or construction of residential houses, commercial real estate and certain other purposes, in India.
The housing finance major's net profit declined 27.55% to Rs 2,870.12 crore in Q2 September 2020 from Rs 3,961.53 crore in Q2 September 2019. Total income stood at Rs 11,732.70 crore in Q2 FY21, falling 13% from Rs 13,494.12 crore in Q2 FY20.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
