Dewan Housing Finance Corporation lost 1.93% to Rs 353.35 at 11:37 IST on BSE, with the stock sliding on profit booking after the company said that its rating have been upgraded by Credit Analysis & Research to CARE AAA for long term facilities.
The announcement was made before market hours today, 27 June 2014.
Meanwhile, the S&P BSE Sensex was up 64.71 points or 0.26% at 25,127.38.
On BSE, so far 75,000 shares were traded in the counter as against average daily volume of 8.63 lakh shares in the past one quarter.
The stock hit a high of Rs 365.55 and a low of Rs 348 so far during the day. The stock had hit a record high of Rs 379.90 on 10 June 2014. The stock had hit a 52-week low of Rs 101.50 on 25 September 2013.
The stock had underperformed the market over the past one month till 26 June 2014, advancing 13.78% compared with Sensex's 1.4% rise. The scrip had, however, outperformed the market in past one quarter, jumping 66.65% as against Sensex's 13.43% rise.
The mid-cap housing finance company has equity capital of Rs 128.61 crore. Face value per share is Rs 10.
Shares of Dewan Housing Finance Corporation (DHFL) had rallied 15.25% in four trading sessions to settle at Rs 360.30 on Thursday, 26 June 2014, from a recent low of Rs 312.60 on 20 June 2014.
DHFL announced that its ratings have been upgraded by Credit Analysis & Research (CARE) to CARE AAA (Triple A) for long term facilities. This is CARE's highest rating, recognising DHFL's business excellence over three decades of operations, DHFL said. As of 31 March 2014, DHFL's assets under management (AUM) stand at Rs 44822 crore.
Dewan Housing Finance Corporation's net profit fell 28.3% to Rs 141.17 crore on 17.4% decline in total income to Rs 1417.08 crore in Q4 March 2014 over Q4 March 2013.
Dewan Housing Finance Corporation's main business is to provide loans for purchase or construction of residential houses.
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