Hudco stock up 32% in three days; here's why

Significant institutional interest at a reasonable premium is said to have lifted the stock

The Housing and Urban Development Corporation (Hudco) stock has gained over 32 per cent in the past three days. Even after Tuesday’s 12 per cent rally, the stock continues to be in demand with gains of over five per cent on Wednesday.

Turnover in the counter has also been unusually high in the past three days, with today’s turnover touching Rs 70 crore according to data on BSE.

Sources indicate that one of India’s well-known high net worth individuals (HNIs) is mopping up a stake in Hudco, thus explaining the unusual trading volumes and price surge. "With affordable housing being