 "Dewan Housing Finance gains on 1:1 bonus")
Shares of Dewan Housing Finance Corporation were trading higher by 1.6% at Rs 481 on the NSE after the board of directors of the company has recommended a bonus shares in the ratio of 1:1 i.e. one bonus share for every one share held.
Meanwhile, the company reported 6.8% year-on-year (YoY) growth in net profit at Rs 173 crore for the quarter ended June 30, 2015 (Q1).
Net interest income, difference between interest earned and interest paid, grew 3.2% at Rs 418 crore on YoY basis.
Analysts on an average had expected profit of Rs 179 crore and net interest income of Rs 423 crore.
The stock hit a high of Rs 493 post bonus issue announcements and has seen a combined 4.72 million shares changed hands on the counter on the NSE and BSE.
Meanwhile, the company reported 6.8% year-on-year (YoY) growth in net profit at Rs 173 crore for the quarter ended June 30, 2015 (Q1).
Net interest income, difference between interest earned and interest paid, grew 3.2% at Rs 418 crore on YoY basis.
Analysts on an average had expected profit of Rs 179 crore and net interest income of Rs 423 crore.
The stock hit a high of Rs 493 post bonus issue announcements and has seen a combined 4.72 million shares changed hands on the counter on the NSE and BSE.