Business Today
Loading...

HDFC share gains nearly 3% after lender raises Rs 3,693 cr through bond sale

Share price of HDFC rose 2.66% to Rs 1,846 against previous close of Rs 1,798 on BSE

twitter-logoBusinessToday.In | August 11, 2020 | Updated 12:08 IST
HDFC share gains nearly 3% after raising Rs 3,693 crore through bond sale
HDFC share has lost 23.95% in one year and fallen 17.02% since the beginning of this year.

HDFC share price gained in early trade today after the mortgage lender raised Rs 3,693 crore by selling bonds. These papers offered 5.40 percent with three-year maturities. Rating company CRISIL assigned triple-A grade to theses debt securities.

Share price of HDFC rose 2.66% to Rs 1,846 against previous close of Rs 1,798 on BSE. Total 0.53 lakh shares changed hands amounting to turnover of Rs 9.69 crore. Market cap of the firm stood at Rs 3.18 lakh crore.

The stock has gained 3.61%  in 2 days. It trades  higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages. The large cap share has lost 23.95% in one year and fallen 17.02% since the beginning of this year.

Last week, HDFC launched its 14,000-crore qualified institutional placement (QIP) issue at a floor price at Rs 1,838.94 per share. The fundraising programme saw interest from top global investors and was subscribed within a day.

Stocks in news: ICICI Bank, Vodafone Idea, HDFC, Titan, IndiGo, Bank of Baroda

Foreign investment firms GIC, Oppenheimer, Fidelity and Norges were among the investors that owned HDFC shares.

In Q1, the mortgage lender reported a  5% fall in standalone net profit at  Rs 3,052 crore for the quarter ended June 30, 2020 against Rs 3,203 crore in the year ago period.

Net interest margin (NIM) fell to 3.1%, compared to 3.3% in the corresponding quarter last year. "As of date, individual loans under moratorium 2 accounted for 16.6% of the individual loan portfolio. 22.4% of the Corporation's total loans under management have opted for moratorium 2," the company said.

Share Market News Live: Sensex rises 320 points, Nifty at 11,355; NTPC, Tech Mahindra, ITC top performers

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close