HDFC rose 0.31% to Rs 1,230 at 10:30 IST on BSE after the company said that it intends to raise Rs 2000 crore through issue of senior, secured, non-convertible debentures on private placement basis.
The announcement was made after market hours yesterday, 15 November 2016.Meanwhile, the BSE Sensex was up 111.84 points, or 0.43%, to 26,416.47.
On BSE, so far 27,561 shares were traded in the counter, compared with average daily volume of 1.77 lakh shares in the past one quarter. The stock hit a high of Rs 1,242.85 and a low of Rs 1,223.20 so far during the day. The stock hit a record high of Rs 1,463.25 on 7 September 2016. The stock hit a 52-week low of Rs 1,012 on 25 February 2016. The stock underperformed the market over the past one month till 15 November 2016, dropping 7.05% compared with the Sensex's 4.95% fall. The scrip also underperformed the market in past one quarter, declining 11.05% as against the Sensex's 6.56% decline.
The large-cap company has equity capital of Rs 316.80 crore. Face value per share is Rs 2.
HDFC said that the debentures will carry a coupon rate of 7.72% per annum and will have a tenor of 10 years. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the company. The issue will remain open for only one day on 18 November 2016.
HDFC's consolidated net profit rose 16.1% to Rs 2446.21 crore on 16.5% increase in total income to Rs 14526.69 crore in Q2 September 2016 over Q2 September 2015.
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HDFC is India's first retail housing finance company and is currently one of the largest originators of housing loans in the country.
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