HDFC fell 0.65% to Rs 1,327.50 at 9:55 IST on BSE on turning ex-dividend today, 15 July 2016, for final dividend of Rs 14 per share for the year ended 31 March 2016.
Meanwhile, the BSE Sensex was down 19.14 points, or 0.07%, to 27,922.97.
On BSE, so far 6,606 shares were traded in the counter, compared with an average volume of 1.48 lakh shares in the past one quarter. The stock hit a high of Rs 1,334.50 and a low of Rs 1,323.55 so far during the day. The stock hit a 52-week high of Rs 1,370.80 on 16 July 2015. The stock hit a 52-week low of Rs 1,012 on 25 February 2016. The stock had outperformed the market over the past one month till 14 July 2016, rising 11.40% compared with 5.86% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.04% as against Sensex's 9.03% rise.
The large-cap company has an equity capital of Rs 316.41 crore. Face value per share is Rs 2.
Before turning ex-dividend, the stock offered a dividend yield of 1.05% based on the closing price of Rs 1,336.25 on yesterday, 14 July 2016.
Meanwhile, HDFC announced after market hours yesterday, 14 July 2016 that it has successfully priced its first overseas issue of unrated rupee denominated bonds yesterday, 14 July 2016. The company is the first Indian corporate issuer of rupee denominated bonds overseas pursuant to applicable Reserve Bank of India guidelines. The Rs 3000 crore issue of unsecured rupee denominated bonds bears a fixed semi-annual coupon of 7.875% per annum and has a tenor of 3 years and 1 month. The bonds have been issued at a price of 99.24% of the par value and will be redeemed at par. The all-in annualised yield to the investors is 8.33% per annum. This is a rupee based transaction and there is no foreign exchange exposure for HDFC. The bonds will be listed on the London Stock Exchange and cannot be traded in the local Indian market. The issue proceeds would be used for the housing finance business of HDFC as well as for general corporate purposes.
Rupee denominated bonds are instruments through which Indian entities can raise funds by accessing overseas capital markets, while the bond investors hold the currency risk.
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On consolidated basis, HDFC's net profit rose 30.8% to Rs 3460.46 crore on 15.5% growth in total income to Rs 17027.21 crore in Q4 March 2016 over Q4 March 2015.
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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