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21-Aug2018

HDFC trades higher on the bourses

Housing Development Finance Corporation is currently trading at Rs. 1921.45, up by 1.40 points or 0.07% from its previous closing of Rs. 1920.05 on the BSE.

The scrip opened at Rs. 1919.70 and has touched a high and low of Rs. 1930.05 and Rs. 1911.05 respectively. So far 11769 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2051.00 on 30-Jul-2018 and a 52 week low of Rs. 1638.00 on 26-Oct-2017.

Last one week high and low of the scrip stood at Rs. 1941.55 and Rs. 1881.50 respectively. The current market cap of the company is Rs. 324003.29 crore.

The Institutions and Non-Institutions held 89.08% and 10.92% stake respectively in the company.

Housing Development Finance Corporation (HDFC) is reportedly setting up a new venture in order to raise capital for a special situations fund that will invest in stressed projects in real estate. The company is in talks with investors to raise capital through the alternative investment fund (AIF) route.

The company will look at the top 6 to 8 cities and evaluate opportunities across segments including commercial office, hospitality and residential. The company's objective is to find opportunities in real estate stressed assets, and then to capture these projects and turn them around.

HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.


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