HDFC rose 0.3% to Rs 1,253.70 at 12:00 IST on BSE after the company said that it intends to raise Rs 1500 crore through the issue of senior, secured, non-convertible debentures on private placement basis.
The announcement was made after market hours yesterday, 17 November 2016.Meanwhile, the BSE Sensex was up 4.08 points, or 0.02%, to 26,231.70.
On BSE, so far 19,869 shares were traded in the counter, compared with average daily volume of 1.79 lakh shares in the past one quarter. The stock hit a high of Rs 1,257.90 and a low of Rs 1,245.10 so far during the day. The stock hit a record high of Rs 1,463.25 on 7 September 2016. The stock hit a 52-week low of Rs 1,012 on 25 February 2016. The stock outperformed the market over the past one month till 17 November 2016, sliding 4% compared with 4.73% decline in the Sensex. The scrip, however, underperformed the market in past one quarter, falling 8.46% as against Sensex's 6.35% decline.
The large-cap company has equity capital of Rs 316.80 crore. Face value per share is Rs 2.
HDFC said that the debentures will carry a coupon rate of 7.4% per annum and will have a tenor of 2 years. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the company. The issue will remain open for only one day on 22 November 2016.
HDFC's consolidated net profit rose 16.1% to Rs 2446.21 crore on 16.5% increase in total income to Rs 14526.69 crore in Q2 September 2016 over Q2 September 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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