HDFC share hits all-time high as disbursements climb 26% in Q3
BusinessToday.In January 5, 2021
HDFC share rose 2% in early trade today after country's largest mortgage lender said its loan disbursements in the individual loan category grew 26 per cent in Q3. Share of HDFC climbed 2.40% to Rs 2,641 against previous close of Rs 2,579.35 on BSE.
The stock has gained 4.08% in the last four days.
HDFC share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. In last one year, the share has risen 7.59%. The stock has gained 17.58% in one month.
Total 1.05 lakh shares of the firm changed hands on BSE. Market cap of the firm rose to Rs 4.75 lakh crore on BSE.
The individual loan business continued to see improvements during the December quarter, HDFC said.
"For the nine months ended December 31, 2020, individual loan disbursements stood at 86 per cent of the levels in the corresponding period of the previous year," it said.
During the quarter ended December 31, 2020, the profit on sale of investments was Rs 157 crore, it said, adding this was on account of the sale of 25,48,750 equity shares of HDFC Life Insurance Company Limited (HDFC Life).