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Home First Finance Company rises for third day; adds 50% in three months

Capital Market 

Home First Finance Company India jumped 4.32% to Rs 843.70, extending gains for third day.

The stock has added 9.80% in three sessions, from its recent closing low of Rs 768.40 recorded on 22 November 2021.

In the past three months, the stock has zoomed 50% while the benchmark Sensex has added 5.08% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 76.174. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day, 100-day and 200-day moving average (DMA) placed at 663.85, 616.62 and 565.62, respectively.

In an exchange filing made during market hours today, Home First Finance Company India said that the credit rating agency ICRA has revised the outlook of the company's long term credit ratings to '[ICRA]A+; Positive' from '[ICRA] A+; Stable'. It has reaffirmed the short term credit ratings of the company at '[ICRA] A1+'.

Home First Finance Company India is a technology-driven affordable housing finance company (HFC) focused on first-time home buyers in low and middle-income groups. It primarily offers housing loans for the purchase or construction of homes.

The housing finance company's net profit surged to Rs 44.87 crore in Q2 FY22 from Rs 14.33 crore in Q2 FY21. Total income increased by 34.3% YoY to Rs 146.16 crore during the quarter.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, November 25 2021. 14:25 IST