HDFC rose 0.3% to Rs 1,253.70 at 12:00 IST on BSE after the company said that it intends to raise Rs 1500 crore through the issue of senior, secured, non-convertible debentures on private placement basis.
The announcement was made after market hours yesterday, 17 November 2016.Meanwhile, the BSE Sensex was up 4.08 points, or 0.02%, to 26,231.70.
On BSE, so far 19,869 shares were traded in the counter, compared with average daily volume of 1.79 lakh shares in the past one quarter. The stock hit a high of Rs 1,257.90 and a low of Rs 1,245.10 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 outperformed the market over the past one month till 17 November 2016, sliding 4% compared with 4.73% decline in the Sensex. The scrip, however, underperformed the market in past one quarter, falling 8.46% as against Sensex's 6.35% 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 7.4% per annum and will have a tenor of 2 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 22 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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