Post-results profit booking dents HDFC

DALAL STREET SPIKES

HDFC shares ended down marginally (0.16 per cent) at Rs 643.90 on profit booking. The scrip opened at Rs 640.05, went to a high of Rs 647.95 while the low for the day was Rs 633. Volumes on the counter were of the order of 1.7 lakh shares on the BSE.

The company's results were declared today and it reported a 24.6 per cent growth in net profit, way past market expectations.

In early morning trades, the scrip had gone up a little. The scrip has witnessed some volatile movements in the recent past.

The housing finance sector is itself seeing a lot of growth and the low interest rate regime and the low real estate prices have spurred a demand for loans.

HDFC has been competitively pricing its home loan products to cater to various categories of investors.