GIC Housing Finance rose 1.01% to Rs 510.80 at 12:00 IST on BSE after net profit rose 29.94% to Rs 46.61 crore on 14.19% rise in total income to Rs 266.63 crore in Q4 March 2017 over Q4 March 2016.
The result was announced after market hours yesterday, 26 April 2017.Meanwhile, the S&P BSE Sensex was down 58.41 points, or 0.19%, to 30,074.94. The S&P BSE Small-Cap index was up 12.05 points, or 0.08%, to 15,294.71.
On the BSE, 34,616 shares were traded in the counter so far, compared with an average volume of 44,387 shares in the past one quarter. The stock had hit a high of Rs 524.90 in intraday trade so far, which is record high for the counter. The stock had hit a low of Rs 509.80 so far during the day. The stock had hit a 52-week low of Rs 250 on 24 May 2016.
The stock had outperformed the market over the past one month till 26 April 2017, surging 40.57% compared with the Sensex's 2.42% rise. The scrip had also outperformed the market over the past one quarter, jumping 71.77% as against the Sensex's 8.75% rise.
The small-cap company has an equity capital of Rs 53.85 crore. Face value per share is Rs 10.
GIC Housing Finance's board recommended a dividend of Rs 5 per share for the year ended 31 March 2017.
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The company's board has also approved the increase in the borrowing powers of the company from Rs 10000 crore to 12500 crore. The board revised the limit of raising funds by issue of redeemable non-convertible debentures (NCDs)/bonds through private placement basis upto Rs 800 crore. The board also approved for related party transactions of upto Rs 1000 crore.
GIC Housing Finance provides housing loans to both individuals and corporations.
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