HDFC slips 4%, hits 52-week low; down 11% in 8-days post Q3 results

The company had recently reported a 11 per cent jump in net profit at Rs 3,261 crore, on the back of higher income and lower-than-expected credit loss.

Shares of Housing Development Finance Corporation (HDFC Ltd) hit a 52-week low of Rs 2,321, down 4 per cent on the BSE in Monday’s intra-day trade. In comparison, the S&P BSE Sensex was down 2.3 per cent at 56,858 at 09:53 am.

The stock of mortgage lender has fallen 11 per cent in the last eight trading sessions after the company announced its December quarter (Q3FY22) results on February 2, 2022. The stock dropped below its previous low of Rs 2,354.10 touched on May 5, 2021.

In Q3FY22, HDFC reported a 11 per cent jump in net profit